AXIS BANK LTDشراء
#AXISBANK .. short term swing trade
Momentum:
Price Action: The stock is showing signs of bullish momentum as it attempts to break out of a recent consolidation range (marked by the horizontal resistance line around ₹1,177). The breakout appears to be taking place with some strength, which is a positive signal.
Target Area : The chart highlights a potential target zone above the breakout point, suggesting a price increase of approximately ₹40.70, which represents a 3.45% move from the breakout level.
Dow Theory:
Primary Trend: The primary trend on the hourly chart appears to be bearish, as indicated by the preceding significant downtrend.
Secondary Trend: The stock has been consolidating in a range after the downtrend, forming a base. This consolidation is indicative of accumulation, where sellers have weakened, and buyers are gaining control.
Tertiary Trend: The short-term trend shows a potential reversal to the upside, as indicated by the breakout from the consolidation phase.
Strength:
Volume: Although volume is not visible on this chart, a breakout with increasing volume would add further strength to this buy signal.
Support and Resistance: The stock has broken through a key resistance level at ₹1,177, which now acts as a support. If the price stays above this level, it reinforces the bullish strength.
Buy Signal:
Breakout Confirmation: The chart shows a confirmed breakout above the resistance level, which is generally considered a buy signal. The target price is indicated at ₹1,206, which aligns with the potential measured move from the breakout level.
Risk-Reward: The risk-reward ratio seems favorable, with the potential upside being greater than the downside if the support holds.
In summary, the chart is showing a bullish signal with a breakout from consolidation, supported by the reversal of the short-term trend according to Dow theory. The stock appears to have momentum on its side, and if the price stays above the breakout level, it could offer a solid buying opportunity with a target around ₹1,206.
Price Action: The stock is showing signs of bullish momentum as it attempts to break out of a recent consolidation range (marked by the horizontal resistance line around ₹1,177). The breakout appears to be taking place with some strength, which is a positive signal.
Target Area : The chart highlights a potential target zone above the breakout point, suggesting a price increase of approximately ₹40.70, which represents a 3.45% move from the breakout level.
Dow Theory:
Primary Trend: The primary trend on the hourly chart appears to be bearish, as indicated by the preceding significant downtrend.
Secondary Trend: The stock has been consolidating in a range after the downtrend, forming a base. This consolidation is indicative of accumulation, where sellers have weakened, and buyers are gaining control.
Tertiary Trend: The short-term trend shows a potential reversal to the upside, as indicated by the breakout from the consolidation phase.
Strength:
Volume: Although volume is not visible on this chart, a breakout with increasing volume would add further strength to this buy signal.
Support and Resistance: The stock has broken through a key resistance level at ₹1,177, which now acts as a support. If the price stays above this level, it reinforces the bullish strength.
Buy Signal:
Breakout Confirmation: The chart shows a confirmed breakout above the resistance level, which is generally considered a buy signal. The target price is indicated at ₹1,206, which aligns with the potential measured move from the breakout level.
Risk-Reward: The risk-reward ratio seems favorable, with the potential upside being greater than the downside if the support holds.
In summary, the chart is showing a bullish signal with a breakout from consolidation, supported by the reversal of the short-term trend according to Dow theory. The stock appears to have momentum on its side, and if the price stays above the breakout level, it could offer a solid buying opportunity with a target around ₹1,206.
ملاحظة
Update ... awaiting the break
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.