In the previous session, the Nifty Index saw a negative opening in the morning session. The index rebounded at an important support level and recovered from its losses as the day progressed. The Index formed a Bullish Candle on the daily chart and closed with a net gain of 62 points. Index is moving in higher highs and higher lows formation from past two days. Hence, we recommend approaching the markets in a positive way. Use a trailing Stop loss method to protect your profit at higher levels.

Look at the below research report of ‘Stocks to Buy for – Wednesday, July 20, 2022’ before the market opens.

Axis Bank Ltd

NSE :AXISBANK  BSE :532215  Sector : Banks

In the last trading day, stock formed a bullish candle on the daily chart. We can see the ‘Rounding Bottom Pattern’ has formed. It is a reversal chart pattern, also known as a Saucer pattern. This pattern is an indication of the end of the downtrend and the potential beginning of an uptrend. Price and volume are considered key indicators for identifying and confirming this pattern. Stock is now quoting above the neckline of the pattern. The Relative Strength Index (RSI) on the daily chart is 65 and it is moving above previous high.

In a Nutshell, the trend for Axis Bank Ltd. looks to be positive now. one can initiate buy at current levels 700 which can take price towards 746 levels. This outlook is valid as long as we do not see any closing below 679 levels.

Check More Analysis on AXISBANK at: Axis Bank Ltd