EquityPandit’s Outlook for Axis Bank for the week (April 29,2019 – May 03,2019):
AXIS Bank Ltd.
BSE: 532215| NSE: AXISBANK| ISIN: INE238A01034| SECTOR: BANKS
Stock closed the week on negative note losing-1.43%
Week High: 771.20
Week Low: 740.85
Week Range: 30.85
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 740- 742 levels, Minor resistance on the upside is capped around 770- 772 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 @ 710– 708 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 @ 788- 790.
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the week as 788- 790 on upside and 710- 708 on downside.