EquityPandit’s Outlook for Axis Bank for the week (Aug 12, 2019 – Aug 16, 2019):
AXIS Bank Ltd.
BSE: 532215| NSE: AXISBANK| ISIN: INE238A01034| SECTOR: BANKS
Stock closed the week on negative note losing –2.04%
Week High: 682.85
Week Low: 643.20
Week Range: 39.65 Points
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 642 levels, Minor resistance on the upside is capped around 700 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 @ 603 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 @ 720
Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the week as 700 on upside and 642 on downside.