EquityPandit’s Outlook for Axis Bank for the week  (Apr 02, 2018 – Apr 06, 2018) : 

AXIS BANK:

Axis Bank closed the week on positive note gaining around 2.20%.

As we have mentioned last week, that support for the stock lies in the zone of 495 to 500 where trend-line support for the stock is lying. If the stock manages to close below these levels then the stock can drift to the levels of 465 to 470 where long term Fibonacci levels are lying. During the week the stock manages to hit a low of 495 and close the week around the levels of 510.

Support for the stock lies in the zone of 495 to 500 where trend-line support for the stock is lying. If the stock manages to close below these levels then the stock can drift to the levels of 465 to 470 where long term Fibonacci levels are lying.

Minor resistance for the stock lies in the zone of 515 to 520. Resistance for the stock lies in the zone of 530 to 535 where Fibonacci levels and long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 545 to 550 from where the stock has broken down and short & medium term moving averages are lying.

Broad range for the stock in the coming week can be 480– 485 on lower side & 530 – 535 on upper side.