Axisbanksell
AXIS BANK - SHORT TERM VIEWLong Above - 710.15, T1 - 735, T2 - 763.75, T3 - 783.85, T4 - 804.45, T5 - 836.40, T6 - 871.15, T7 - 891........ SL - 685
Short Below - 684.80, T1 - 671.30, T2 - 658.65, T3 - 631.85, T4 - 623.15, T5 - 590.55, T6 - 570.45, T7 - 550.10..... SL - 705
AXISBANKAXISBANK is at resistance and forming 4 tops if it break up side go bullish and get good target i am not suggesting to go short on axis bank
Axis bank Elliott wave analysis 2020 : One time opportunity Stock is in clear bearish trend. Right now we are at the end of 4th correction wave followed by 5th wave.
If we consider global economy than we have us election on 4th November 2020. The result of this election will decide tone of current geopolitics risks for next 5 years specially us china. Before 2025 china has its own agenda "the vision 2025" which is the core reason behind US China India issue we knows as tiktok, pubg ban.
The 5G : who will lead the world in 5g US or China. With whom will India build its 5G infrastructure US or china. this is the core concern of current us, china, India political drama
Which bank will provide investment for that infrastructure for business
Due to corona virus depression banks are already in loss. we can expect unprecedented loan default this year. Legendary investor Warren Buffett is already getting out of banks stocks which he bought in 2007 financial crisis which triggered global recession obviously it came later in India too. He has sold all of his goldman sachs.
At the end of 5th wave we will have once in a life time opportunity to buy this stocks but it will take years to recover only patience investor will make money
Buy low Sell High : Indian stock markets Elliott wave analysis
AXIS BANK: GANN FAN? Will break support? Let's see this weekAXIS BANK: GANN FAN? If it breaks support of 350 It may head to big correction. Next support near 305 levels
Possible Correction of 12-15% ahead...
#AxisBank ShortTerm view*Note:
Yellow Lines: Weekly Support zone 680 to 647 (Max, should not go that much, consider 690 only for now)
Pink Line: Recently acting as support turned into resistance (2 Hrs time frame)
Recently 707 acting as a support breakout of 707 may lead to 697 > 689 > 680 (Strong support)
**Upward trendline broken on weekly basis.
