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AXISBANK Weekly Outlook and Analysis:
For the Week: (Aug 10,2020 – Aug 14,2020)
BSE: 532215| NSE: AXISBANK| ISIN: INE238A01034| SECTOR: BANKS
Axis Bank Share Price: 433.30 NSE
Stock closed the week on flat note
Week High: 446.85
Week Low: 415.70
Week Range:31.15 Points
?Weekly Support & Resistance Levels for AXIS Bank Ltd.
| RESISTANCE 2 | 463 |
| RESISTANCE 1 | 448 |
| SUPPORT 1 | 417 |
| SUPPORT 2 | 401 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 417 levels, Minor resistance on the upside is capped around 448 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 @ 401 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 @ 463
Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the week as 463 on upside and 401 on downside.
The technical analysis shows that AXIS BANK share price are moving near channel support. Positive bias was made with the help of 50 EMA. Break above 438 level will take price higher towards 460 levels.
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.
