Signals, Powered By EquityPandit
AXISBANK Weekly Outlook and Analysis:
For the Week: Sept 28,2020 – Oct 01,2020)
BSE: 532215| NSE: AXISBANK| ISIN: INE238A01034| SECTOR: BANKS
AXISBank Share Price: 415.05 (NSE)
AXISBank closed the Weekly on negative note losing 6.38%
Weekly High: 444.00
Weekly Low: 400.15
Weekly Range: 43.85 Points
Weekly Support & Resistance For Axis Bank:
| RESISTANCE 2 | 464 |
| RESISTANCE 1 | 440 |
| SUPPORT 1 | 395 |
| SUPPORT 2 | 375 |
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Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 395 levels, Minor resistance on the upside is capped around 440 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 @ 375 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 @ 464
Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the Weekly as 464 on upside and 375 on downside.
The present structure shows that AXISBANK share price moving in breakdown phase of head and shoulder pattern on daily chart basis. For coming week 400 levels would be crucial support in the near term as any breach of this level will invite incremental weakness.
Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the Weekly as 460 on upside and 407 on downside.
