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Axis Bank buy at 1840

Discussion in 'Technical Analysis' started by yankeedin, Jun 17, 2014.

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  1. yankeedin

    yankeedin Responder

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    Axis bank can be bought at cmp 1840 for target of 1990 with sl of 1750....
     
    yankeedin, Jun 17, 2014
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  2. shabbir

    shabbir Administrator Staff Member

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    I don't see any pattern.
     
    shabbir, Jun 18, 2014
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  3. yankeedin

    yankeedin Responder

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    Kindly see the chart attached... self explanatory with a single trend line
     

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    yankeedin, Jun 18, 2014
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  4. shabbir

    shabbir Administrator Staff Member

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    Yes but the effect of stock around 1100 and around 1700 is not same. After the breakout above 1700 it has no pattern being formed and there are big red candles being formed which means profit booking.

    After 1700 there was a good consolidation between 1800 and 1900 roughly but then 1800 is broken and so I would prefer the stock to stabilize because the straight line up is not continuing (or it may even) but then I would prefer the may to go away and be sure if it would continue or not.

    Some trading sessions with consolidation will confirm that.
     
    shabbir, Jun 19, 2014
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  5. yankeedin

    yankeedin Responder

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    Axis bank as suggested at 1840 has now been trading consistently above 1900(currently 1930 a gain of 90 points) since 9 trading sessions.

    Stop loss can be modified to 1895 for target above 2000
     
    yankeedin, Jul 7, 2014
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  6. yankeedin

    yankeedin Responder

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    stop loss hit.. lucky to get out with profit after keeping new sl:)
     
    yankeedin, Jul 8, 2014
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