EquityPandit’s Outlook for Axis Bank for the week (May 13, 2019 – May 17,2019):
AXIS Bank Ltd.
BSE: 532215| NSE: AXISBANK| ISIN: INE238A01034| SECTOR: BANKS
Stock closed the week on negative note losing -3.37%
Week High: 757.40
Week Low: 730.00
Week Range: 27.40
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 725- 727 levels, Minor resistance on the upside is capped around 760– 765 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 @ 702– 700 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 @ 780– 785
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the week as 780– 785 on upside and 702– 700 on downside.