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AXIS BANK: Peculiar Reversion Or Trend continuation?

Posted: 18 May 2022 02:46 AM PDT

Axis bank has been in the consolidation phase for more than 15 months. Prices fall rapidly after the crossover of 50 & 200 EMA. We can draw two control lines, which can be helpful for target measurement.

If the price enters into the parallel channel, and after retracement sustains above 680, traders can trade for the following target of 692 – 714 – 752. Demand pressure can lead to the price at the upper band of the parallel channel.

Note that, Failure of sustainability above 680 may lead to a new low. I will update further information for premium subscribers soon.

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