Axis Bank Outlook for the Week (Sept 04,2020 – Sept 18,2020)

BSE: 532215

Stock is trading below 200 days exponential moving average, suggests long term pattern is bearish. EquityPandits Predicts Range for the Weekly as 488 on advantage and 404 on disadvantage.

Weekly Low: 425.00.

RESISTANCE 1.
467.

AXISBank closed the Weekly on negative note losing 1.75%.

AXISBank Share Price: 447.20 (NSE).

Weekly Range: 42.15 Points.

For the Week: (Sept 04,2020– Sept 18,2020).

? Technically on the day-to-day charts EquityPandits Analyst see: Minor support on the drawback lies at 425 levels, Minor resistance on the upside is topped around 467 levels.

To continue with up move, break above 100EMA level on closing basis is required.Stock is trading below 200 days rapid moving average, suggests long term pattern is bearish. EquityPandits Predicts Range for the Weekly as 460 on advantage and 407 on disadvantage.

Weekly Support & & Resistance For Axis Bank:.

Weekly High: 467.15.

ASSISTANCE 2.
404.

ASSISTANCE 1.
425.

The present structure reveals that stock formed a Bullish candle light on daily chart. If we look from an immediate short-term angle, Axisbank share price appears to be sideways to positive. Move towards 455-456 levels can be anticipated on advantage. To continue with up relocation, break above 100EMA level on closing basis is required.Stock is trading below 200 days exponential moving average, recommends long term trend is bearish. EquityPandits Predicts Range for the Weekly as 460 on benefit and 407 on drawback.

If stock breaches small assistance on the drawback and closes listed below it we might see fresh break down and stock can drag towards Major Support on lower side @ 404 and If stock breaches minor resistance on the upside and closes above it we might see fresh breakout and stock can head towards Major Resistances Level @ 488.

RESISTANCE 2.
488.