EquityPandit’s Outlook for Axis Bank for the week (August 17, 2015 – August 21, 2015):

AXIS BANK:

Axis Bank closed the week on negative note losing around 2%.

As we have mentioned last week that the stock is facing significant resistance in the zone of 590 where trend-line for the stock is lying and the stock hit a high of 585 and corrected to the levels of 555 before closing the week around the levels of 570.

The stock is facing stiff resistance around the zone of 590. if the stock manages to close above the levels of 590 the stock can move to the levels of 610.

Support for the stock lies in the zone of 560 to 570 where 50 Daily EMA and 100 Daily SMA are lying.

Resistance for the stock lies in the range of 600 to 610.

Broad range for the stock in the coming week can be 555 – 565 on lower side to 610 – 620 on upper side.