AXIS BANK - BANK NIFTY DARKHORSE

17 de abr. de 2022

Axis bank is buzzing around the news of takeover of retail business of Citi Bank. The stock has finally getting momentum from last 2 weeks indicating a test around its resistance of around 815 to 820. once it starts sustaining above that a target of around 1000 is opened. the target is arrived by testing the previous lows around 600 - 650 range. So, a gap of around 150 to 175 points on the downside from the resistance, can see upside of around 150 - 175 points on the upside of the resistance which is a peculiarity of an Inverse Head and shoulder pattern. Moreover, from a fundamental point of view, the stock is seen outperforming various peers among its side. Target mentioned are for long term horizon of around 8-10 months.

DISCLAIMER - I AM NOT AN FINANCIAL ADVISOR, ITS JUST A VIEW AND NOT AN ADVISE.