Signals, Powered By EquityPandit
AXISBANK Weekly Outlook and Analysis:
For the Week: (Feb 01,2021 – Feb 05,2021)
BSE: 532215| NSE: AXISBANK| ISIN: INE238A01034| SECTOR: BANKS
AXISBank Share Price: 662.90 (NSE)
AXISBank closed the Weekly on Negative Note Losing 1.77%
Weekly High: 675.85
Weekly Low: 616.00
Weekly Range: 59.85 Points
Weekly Support & Resistance For Axis Bank:
| RESISTANCE 2 | 711 |
| RESISTANCE 1 | 687 |
| SUPPORT 1 | 627 |
| SUPPORT 2 | 591 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 627 levels, Minor resistance on the upside is capped around 687 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 @ 591 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 @ 711
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the Weekly as 711 on upside and 591 on downside.
The present structure shows that AXIS BANK share price moving above support zone. A Bullish Engulfing pattern occurred on the candles. To continue with up move stock need to break 676-677 levels.
