Axis bank - Multi time frame analysis

23 окт.

In the daily time frame, the price has formed a rounding bottom pattern. In the weekly time frame, the price has formed an inverted head and shoulders pattern. Both are bullish patterns.
As long as the price is sustained above 1200, bulls have the chance to move the price up.
Price can bounce from the level 1230 - 1245.
If price shows bearish strength from the current levels and falls down, buy above 1240 with the stop loss of 1222 for the targets 1258, 1276, 1294 and 1312.
If the price opens flat and shows bullish strength, buy above 1260 with the stop loss of 1244 for the targets 1274, 1288, 1304 and 1318.
Always do your analysis before taking any trade.

24 окт.

Сделка активна

Long. Price bounced from 1241 and made high 1276. Target 2 done and once again testing the bouncing zone mentioned.