EquityPandit’s Outlook for Axis Bank for the week (May 06,2019 – May 10,2019):
AXIS Bank Ltd.
BSE: 532215| NSE: AXISBANK| ISIN: INE238A01034| SECTOR: BANKS
Stock closed the week on positive note gaining 0.32%
Week High: 766.90
Week Low: 740.85
Week Range: 26.05
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 780– 785 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 @ 825– 830
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the week as 825– 830 on upside and 710- 708 on downside.