Start of a short term downtrend?
#Axis_Bank Weekly chart
Historically it is seen that after a neat term top axis bank share price corrects about 150-200 odd points.
In the weekly chart, we can see an EVENING STAR PATTERN (a bullish reversal pattern).
If the low 764 is broken we can see the prices fall towards 600(An opportunity for the long-term investors to accumulate).
Wave theory followers can see Wave 12345 done @ 866 and A done @ 648 and B done at 815 and Wave C is unfolding towards 600.
Disclaimer: Educational View
Historically it is seen that after a neat term top axis bank share price corrects about 150-200 odd points.
In the weekly chart, we can see an EVENING STAR PATTERN (a bullish reversal pattern).
If the low 764 is broken we can see the prices fall towards 600(An opportunity for the long-term investors to accumulate).
Wave theory followers can see Wave 12345 done @ 866 and A done @ 648 and B done at 815 and Wave C is unfolding towards 600.
Disclaimer: Educational View
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