EquityPandit’s Outlook for Axis Bank for the week (Mar 11, 2019 – Mar 15, 2019) :
AXIS Bank Ltd.
BSE: 532215| NSE: AXISBANK| ISIN: INE238A01034| SECTOR: BANKS
Stock closed the week on positive note gaining +3.24%
Week High: 732.35
Week Low: 703.10
Week Range: 29.25
Technically on the daily charts EquitPandit’s analyst see minor support on the downside for AXISBANK at 695-690 levels, whereas minor resistance on the upside is capped around 740- 745 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 660-650 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 770-780
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 770-780 on upside & 660-650 on downside.