Axis Bank Outlook for the Week (June 29, 2020 – July 03, 2020)


EquityPandit’s Outlook for Axis Bank for the week (June 29, 2020 – July 03, 2020):

BSE: 532215| NSE: AXISBANK| ISIN: INE238A01034| SECTOR: BANKS

Stock closed the week on positve note gaining 1.87%

Week High: 448.50

Week Low: 410.35

Week Range: 38.15 Points

axisbank

AXIS Bank Ltd.

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at405.50 levels, Minor resistance on the upside is capped around 448 levels.

If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 384 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @467

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the week as 467 on upside and 384 on downside.

 

WEEKLY PIVOT LEVELS:

RESISTANCE 2 466
RESISTANCE 1 445
SUPPORT 1 407
SUPPORT 2 389

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