EquityPandit’s Outlook for Axis Bank for the week  (Sep 11, 2017 – Sep 15, 2017) :

AXIS BANK:

Axis Bank closed the week on negative note losing around 2.70%.

As we have mentioned last week, that minor support for the stock lies in the zone of 498 to 501. Support for the stock lies in the zone of 492 to 495 where 200 Daily Moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 482 to 485 where the stock has formed a short term bottom. During the week the stock manages to hit a low of 491 and close the week around the levels of 494.

Support for the stock lies in the zone of 492 to 495 where 200 Daily Moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 482 to 485 where the stock has formed a short term bottom.

Minor resistance for the stock lies in the zone of 498 to 500. Resistance for the stock lies in the zone of 505 to 508 where short & medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 517 to 520 from where the stock has sold off.

Broad range for the stock in the coming week can be 480– 482 on lower side & 510 – 515 on upper side.