EquityPandit’s Outlook for Axis Bank for the week (June 8, 2020 – June 12, 2020):

AXIS BANK:

AXIS Bank Ltd.

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

Stock closed the week on positive note gaining5.3%

Week High:432

Week Low:390.50

Week Range: 41.50 Points

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 384.60 levels, Minor resistance on the upside is capped around 431 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 @ 370.70  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 @ 441.40

Stock is trading below 200 days  exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the week as 441.40 on upside and 370.70  on downside.

WEEKLY PIVOT LEVELS: