EquityPandit’s Outlook for Axis Bank for the week (May 11, 2020 – May 15, 2020):

AXIS BANK:

BSE: 532215| NSE: AXISBANK| ISIN: INE238A01034| SECTOR: BANKS

Stock closed the week on negative note losing 14.02%

Week High:444.60

Week Low: 382.25

Week Range: 62.35 Points

AXIS Bank Ltd.

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 342 levels, Minor resistance on the upside is capped around 428 levels.

If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 324 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 462

Stock is trading below 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the week as 462 on upside and 324 on downside.

Weekly Pivot Levels: