EquityPandit’s Outlook for Axis Bank for the week (April 01, 2019 – April 05, 2019):
AXIS Bank Ltd.
BSE: 532215| NSE: AXISBANK| ISIN: INE238A01034| SECTOR: BANKS
Stock closed the week on positive note gaining +2.20%
Week High: 780.20
Week Low: 743.85
Week Range: 36.35
Technically on the daily charts EquitPandit’s analyst see minor support on the downside for AXISBANK at 730- 740 levels, whereas minor resistance on the upside is capped around 790- 795 levels.
If AXISBANK breaches minor support on the downside and closes below it we may see fresh breakdown and stock may drag towards next major support levels lower side around 670-680 if AXISBANK breaches minor resistance levels on the upside and closes above it we may see fresh breakout and stock can head towards major resistance levels placed around 825- 835
Currently trend for the stock is bullish as stock trading above 200 days exponential moving averages. EquityPandit predicts AXISBANK range for the week is seen from 790- 800 on upside & 670-680 on downside.