AXISBANK Weekly Outlook and Analysis:

For the Week: (Aug 31,2020 – Sept 04,2020)

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

AXISBank Share Price: 509.20 (NSE)

AXISBank closed the Weekly on positive note gaining 15.60%

Weekly High: 513.00

Weekly Low: 442.30

Weekly Range: 70.70 Points

Weekly Support & Resistance For Axis Bank:

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 463 levels, Minor resistance on the upside is capped around 534 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 @ 417 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 @ 559

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the Weekly as 559 on upside and 417 on downside.

On daily chart basis, Prices are seen precisely moving in rising channel and above double bottom pattern. In short, Axisbank looks to be positive. Move towards 530 levels can be expected on upside.

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.