Axis Bank Outlook for the Week (Sept 21,2020 – Sept 25,2020)


For the Week: (Sept 21,2020 – Sept 25,2020)

AXISBANK

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

AXISBank Share Price: 443.35 (NSE)

AXISBank closed the Weekly on negative note losing 1.75%

Weekly High: 455.00

Weekly Low: 435.90

Weekly Range: 19.10 Points

Weekly Support & Resistance For Axis Bank:

RESISTANCE 2 464
RESISTANCE 1 454
SUPPORT 1 435
SUPPORT 2 426

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Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 435 levels, Minor resistance on the upside is capped around 454 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 @ 426 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 @ 464

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the Weekly as 464 on upside and 426 on downside.

The present structure shows that AXISBANK share price moving in the form of head and shoulder pattern on daily chart basis. The level 427-425 would be crucial support in the near term as any breach of this level will invite incremental weakness.