AXISBANK Weekly Outlook and Analysis:

For the Week: (April 12,2021 – April 16,2021)

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

AXISBank Share Price: 668.20 (NSE)

AXISBank closed the Weekly on Negative Note Losing 6.28%

Weekly High: 708.45

Weekly Low: 667.00

Weekly Range: 41.45 Points

Weekly Support & Resistance For Axis Bank:

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 654 levels, Minor resistance on the upside is capped around 695 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 @ 640 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 @722

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the Weekly as 722 on upside and 640 on downside.

The present structure shows that AXIS BANK share price manage to close above 100 EMA support line on daily chart. The level of 667 would be crucial in the near term as any break below this level will invite more 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.