EquityPandit’s Outlook for Axis Bank for the week (May 26, 2020 – May 29, 2020):

AXIS BANK:

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

Stock closed the week on negative note losing13.3%

Week High:389

Week Low:332.85

Week Range: 56.15 Points

AXIS Bank Ltd.

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 321.50levels, Minor resistance on the upside is capped around 362.60 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 @ 307.70 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 @ 373

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the week as 373 on upside and 307.70 on downside.

Weekly Pivot Levels: