Axis Bank Outlook for the Week (Dec 07,2020 – Dec 11,2020)


For the Week: (Dec 07,2020 – Dec 11,2020)

axisbank

BSE: 532215| NSE: AXISBANK| ISIN: INE238A01034| SECTOR: BANKS

AXISBank Share Price: 614.50 (NSE)

AXISBank closed the Weekly on Positive note gaining 2.15%

Weekly High: 616.45

Weekly Low: 596.20

Weekly Range: 20.25 Points

Weekly Support & Resistance For Axis Bank:

RESISTANCE 2 629
RESISTANCE 1 621
SUPPORT 1 601
SUPPORT 2 588

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Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 601 levels, Minor resistance on the upside is capped around 621 levels.

If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 588 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 629

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the Weekly as 629 on upside and 588 on downside.

On daily chart we can see AXIS BANK share price are moving in the form of symmetrical triangle pattern. A white body appeared on the candle in last trading session. To continue with up move, break above prior day high near 617 on closing basis is required.

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the Weekly as 460 on upside and 407 on downside.