EquityPandit’s Outlook for Axis Bank for the week  (Dec 03, 2018 – Dec 07, 2018) : 

AXIS BANK:

Axis Bank closed the week on positive note gaining around 1.80%.

As we have mentioned last week, that resistance for the stock lies in the zone of 625 to 630 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 650 to 655 from where the stock has broken down. During the week the stock manages to hit a high of 639 and close the week around the levels of 626.

Support for the stock lies in the zone of 600 to 610 where Fibonacci levels and short & medium term moving are lying. If the stock manages to close below these levels then the stock can drift to the levels of 580 to 590 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 635 to 645 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 650 to 660 from where the stock has broken down.

Broad range for the stock in the coming week can be 580– 590 on lower side & 640 – 650 on upper side.