EquityPandit’s Outlook for Axis Bank for the week (May 18, 2020 – May 22, 2020):

AXIS BANK:

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

Stock closed the week on positive note Gaining 1.7%

Week High:416.45

Week Low: 370

Week Range: 46.45 Points

AXIS Bank Ltd.

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 368.35 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 @ 340.50 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 @ 451

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the week as 451 on upside and 340.50 on downside.

Weekly Pivot Levels: