Will Axis Bank's current trend continue or shift?
Looking at the chart in the lower time frame, it gives a good break out from the trend line on December 31st, 680. Give 9.3% up move also powering bank nifty. On a daily chart, it is nearing major resistance as you can see, and also a fib line as well. If that is being broken, we can expect a quick up move again or a drop.
While looking at the overall market condition, we can expect it to act as a resistance. I consider it a negative trend until it sustains above the fib line. Let's see what happens and keep an eye on it.
While looking at the overall market condition, we can expect it to act as a resistance. I consider it a negative trend until it sustains above the fib line. Let's see what happens and keep an eye on it.
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