EquityPandit’s Outlook for Axis Bank for the week (May 27, 2019 – May 31,2019)

AXIS BANK:

AXIS Bank Ltd.

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

Stock closed the week on positive note gaining +6.08%

Week High: 793.65

Week Low: 748.15

Week Range: 45.50

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 770 levels, Minor resistance on the upside is capped around 805 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 @ 750 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 @ 825

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the week as 825 on upside and 750 on downside.