AXISBANK Weekly Outlook and Analysis:

For the Week: (Aug 24,2020 – Aug 28,2020)

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

AXISBank Share Price: 440.45 (NSE)

AXISBank closed the Weekly on positive note gaining 1.05%

Weekly High: 451.95

Weekly Low: 425.35

Weekly Range: 26.60 Points

Weekly Support & Resistance For Axis Bank:

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Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 426 levels, Minor resistance on the upside is capped around 453 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 @ 412 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 @ 466

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the Weekly as 466 on upside and 412 on downside.

On daily chart basis, Prices are seen precisely moving within rising channel and currently placed near the channel support. In short trend If price moves below this support we can see more weakness towards downside.

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.