Axis Bank Ltd. (NSE) based on the provided chart and technical indicators.
- Technical View Current Price: ₹1111.90
Trend:
The stock is in a short-term downtrend, moving lower from the ₹1170-1200 zone.
The price is now hovering near a crucial support area.
Fibonacci Levels:
0.618 Retracement: ₹1174 (earlier strong support, now resistance)
0.5 Retracement: ₹1153 (acting as resistance now)
0.0 Level: ₹1065 (major downside target)
Relative Strength Index (RSI):
RSI is near 16, which indicates oversold conditions.
A short-term technical bounce is possible if support holds.
- Key Support & Resistance Immediate Resistance:
₹1115 – minor hurdle
₹1153 – Fibonacci 50%
₹1167–1174 – strong resistance
Immediate Support:
₹1100 – psychological level
₹1080–1065 – major support zone
If the stock breaks ₹1100, it can test ₹1080 → ₹1065. If it sustains above ₹1128, a short-covering rally towards ₹1153-1167 is possible.
- Pivot Levels (2H chart) Pivot Point: ~₹1128
Support 1: ₹1115
Support 2: ₹1100
Support 3: ₹1065
Resistance 1: ₹1153
Resistance 2: ₹1167
Resistance 3: ₹1174
- Trade Setup ✅ If bullish (for bounce):
Buy near ₹1100–1110 with target ₹1128 → ₹1153 → ₹1167
Stop Loss: below ₹1090
✅ If bearish (trend continuation):
Sell if price breaks ₹1100 decisively
Target: ₹1080 → ₹1065
Stop Loss: ₹1128
- Fundamental View Axis Bank is one of the leading private sector banks with strong fundamentals:
Stable NIMs (Net Interest Margins) around 4%
Improving asset quality – GNPA below 2%
ROE ~18%, showing healthy profitability
Well-positioned for credit growth with a diversified loan book
Macro Factors:
RBI policy, interest rate changes, and liquidity conditions will impact the stock.
Private banks have been under pressure due to profit booking after a strong rally.
From a long-term view, Axis Bank remains fundamentally strong, so dips near ₹1065-1080 could be good accumulation zones for investors.
Summary Short-term: Weak trend, may test ₹1100 → ₹1080
Medium-term: Watch for a bounce if RSI recovers from oversold zone
Long-term: Fundamentally strong; buy on dips near ₹1065–1080
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