Axis Bank Outlook for the Week (Dec 28,2020 – Jan 01,2021)


For the Week: (Dec 28,2020 – Jan 01,2021)

AXISBANK

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

AXISBank Share Price: 610.20 (NSE)

AXISBank closed the Weekly on Flat Note

Weekly High: 614.00

Weekly Low: 568.40

Weekly Range: 45.60 Points

Weekly Support & Resistance For Axis Bank:

RESISTANCE 2 643
RESISTANCE 1 626
SUPPORT 1 580
SUPPORT 2 551

 

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 580 levels, Minor resistance on the upside is capped around 626 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 @ 551 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 @ 643

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the Weekly as 643 on upside and 551 on downside.

On daily chart we can see AXIS BANK share has given break out from Short term Trend line . A white body appeared on the candle. In short, Axis bank looks to be positive. Move towards 625 levels can be expected on upside. This outlook is valid as long as 568 remains protected on downside

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.