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Axis Bank

While PSU Banks are making all bullish patterns Axis Bank is making a bearish Head and Shoulder. Neck line of that pattern is at 553. Technical targets of that pattern could be around 475. Meanwhile good supports are at 546 and then at 540 then at 508.

Disclosure: I am having shares of Axis bank in Cash and will short some in futures if that pattern confirms.

Comments

  1. Pawan HargunaniAugust 21, 2015 at 8:47 AM

    Booked part profit first on 20-08-2015 at 532 then today at 519.5. Stop loss for now remaining position is at 530 so that trade will never be in loss

    ReplyDelete
  2. Pawan HargunaniAugust 23, 2015 at 8:51 PM

    booked full profit in Axis bank shorts

    ReplyDelete

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