EquityPandit’s Outlook for Axis Bank for the week (June 15, 2020 – June 19, 2020):

AXIS BANK:

BSE: 532215| NSE: AXISBANK| ISIN: INE238A01034| SECTOR: BANKS

Stock closed the week on positive note gaining0.66%

Week High:444.75

Week Low:389.15

Week Range: 55.6 Points

AXIS Bank Ltd.

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at385.50 levels, Minor resistance on the upside is capped around 417.40 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 @ 367 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 @431

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the week as 431 on upside and 367 on downside.

WEEKLY PIVOT LEVELS: