Axis bank

Axis bank is looking to have completed its correction from 653 levels. The stock was in a downtrend after hitting highs of 654 on 04-march-2015. The correction now seems to be over. The stock is now trading above all short term moving averages 5, 20 and a very good long term average of 89 sma. The stock can be bought with a very small stop loss of 555 for targets of 625-650 and might even 700 in next 6 months. The stock has a good  resistance around the levels of 590 so if stock manages to close above 590-600 it will give a good break out.

Disclosure:  I am not a technical analyst. I analyse charts for my own purpose and share them only for study purpose. It is safe to assume that i am having positions in the stock.