Signals, Powered By EquityPandit
AXISBANK Weekly Outlook and Analysis:
For the Week: (May 10, 2021 – May 14, 2021)
BSE: 532215| NSE: AXISBANK| ISIN: INE238A01034| SECTOR: BANKS
AXISBank Share Price: 716.75 (NSE)
AXISBank closed the Weekly on Positive Note Gaining 0.26%
Weekly High: 726.90
Weekly Low: 692.10
Weekly Range: 34.80 Points
Weekly Support & Resistance For Axis Bank:
| RESISTANCE 2 | 747 |
| RESISTANCE 1 | 732 |
| SUPPORT 1 | 697 |
| SUPPORT 2 | 677 |
Technically on the daily charts, EquityPandit’s Analyst sees: Minor support on the downside lies at 697 levels, Minor resistance on the upside is capped around 732 levels.
If stock breaches minor support on the downside and closes below it we may see a fresh break down and stock can drag towards Major Support on the lower side @ 677 and If stock breaches minor resistance on the upside and closes above it we may see a fresh breakout and stock can head towards Major Resistances Level @747.
Stock is trading above 200 days exponential moving average, which suggests the long term trend is bullish. EquityPandit’s Predicts Range for the Weekly as 747 on the upside and 677 on the downside.
The present structure shows that AXIS BANK share has short term resistance near the 734-735 level on the upside. Only above that level, we may see some stability.
