AXISBANK Weekly Outlook and Analysis:

For the Week: (Oct 05,2020 – Oct 09,2020)

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

AXISBank Share Price: 443.70 (NSE)

AXISBank closed the Weekly on positive note gaining 6.90%

Weekly High: 445.30

Weekly Low: 418.05

Weekly Range: 27.25 Points

Weekly Support & Resistance For Axis Bank:

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Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 426 levels, Minor resistance on the upside is capped around 453 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 @ 409 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 @ 463

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the Weekly as 463 on upside and 409 on downside.

On daily chart we can see AXIS BANK share price are sustaining above 61.8% of Fibonacci Retracement. If we look from an immediate short-term angle, to continue to move higher stock need to close above 100 EMA levels.

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the Weekly as 460 on upside and 407 on downside.