Axis bank has been in the consolidation phase for more than 15 months. Prices fall rapidly after the crossover of 50 & 200 EMA. We can draw two control lines which can be helpful for target measurement.
If the price enters into the parallel channel, and after retracement sustains above 680, traders can trade for the following target of 692 - 714 - 752. Demand pressure can lead to the price at the upper band of the parallel channel.
Failure of sustainability above 680 may lead to a new low.
Let market earmark first before you commit to the market.
If the price enters into the parallel channel, and after retracement sustains above 680, traders can trade for the following target of 692 - 714 - 752. Demand pressure can lead to the price at the upper band of the parallel channel.
Failure of sustainability above 680 may lead to a new low.
Let market earmark first before you commit to the market.
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