Axis Bank Outlook for the Week (Nov 09,2020 – Nov 13,2020)


For the Week: (Nov 09,2020 – Nov 13,2020)

axisbank

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

AXISBank Share Price: 541.75 (NSE)

AXISBank closed the Weekly on positive note gaining 10%

Weekly High: 546

Weekly Low: 495.10

Weekly Range: 50.90 Points

Weekly Support & Resistance For Axis Bank:

RESISTANCE 2 578
RESISTANCE 1 560
SUPPORT 1 509
SUPPORT 2 476

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Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 509 levels, Minor resistance on the upside is capped around 560 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 @ 476 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 @ 578

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the Weekly as 578 on upside and 476 on downside.

On daily chart we can see AXIS BANK share price are moving above V Bottom Pattern on daily time frame .Its a powerful reversal pattern. In short, AXIS BANK looks to be positive. Move towards 570 levels can be expected on upside.

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.