EquityPandit’s Outlook for Axis Bank for the week(April 08, 2019 – April 12, 2019):
AXIS Bank Ltd.
BSE: 532215| NSE: AXISBANK| ISIN: INE238A01034| SECTOR: BANKS
Stock closed the week on negative note losing -1.82%
Week High: 776.10
Week Low: 761.40
Week Range: 14.70
Technically on the daily charts EquitPandit’s analyst see minor support on the downside for AXISBANK at 750- 745 levels, whereas minor resistance on the upside is capped around 780-785 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 730- 735 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 800- 810
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 800- 810 on upside & 730- 735 on downside.