EquityPandit’s Outlook for Axis Bank for the week  (July 02, 2018 – July 06, 2018) : 

AXIS BANK:

Axis Bank closed the week on negative note losing around 2.80%.

As we have mentioned last week, that support for the stock lies in the zone of 520 to 525 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 500 to 505 where trend-line support for the stock is lying. During the week the stock manages to hit a low of 499 and close the week around the levels of 511.

Support for the stock lies in the zone of 500 to 505 where trend-line support for the stock is lying. If the stock manages to close below these levels then the stock can drift to the levels of 480 to 485 where the stock has taken support in the month of April-2018.

Resistance for the stock lies in the zone of 520 to 525 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 540 to 545 where Fibonacci levels are lying.

Broad range for the stock in the coming week can be 480– 490 on lower side & 530 – 535 on upper side.