AXISBANK Weekly Outlook and Analysis:

For the Week: (Aug 03,2020 – Aug 07,2020)

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

AXIS BANK SHARE PRICE : 431.65 NSE

Stock closed the week on negative note losing 3.13%

Week High: 448

Week Low: 421.30

Week Range: 26.7 Points

?Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 420 levels, Minor resistance on the upside is capped around 446 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 @ 407 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 @ 460

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the week as 460 on upside and 407 on downside.

The technical analysis shows that AXIS BANK share price is manage to close near day high after taking support from lower trend of rising channel. Positive bias was made with the help of 50 DMA.

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the week as 460 on upside and 407 on downside.

AXISBANK Weekly Support  & Resistance Levels: