AXIS BANK – NSE Spot around: ₹1,230 | Chart timeframe: Intraday (5–15 min view)
🔍 TECHNICAL STRUCTURE (FACT-BASED) Pattern: Symmetrical triangle / contracting range
Trend: Sideways to slightly bearish near upper resistance
Price action: Rejected from upper trendline near ₹1,233–1,235
Momentum: Weak at resistance, buyers losing strength
Bias (Today): Sell on rise / Breakdown trade preferred
📌 KEY LEVELS Resistance
R1: ₹1,233–1,235 (triangle upper band)
R2: ₹1,240
Support
S1: ₹1,228–1,227 (triangle lower band – crucial)
S2: ₹1,222
S3: ₹1,215
⚡ INTRADAY TRADE (TODAY – HIGH PROBABILITY) 🔴 SELL SETUP (Preferred – Money Side Today) Sell below: ₹1,228 (sustained breakdown)
Stop Loss: ₹1,234
Targets:
T1: ₹1,222
T2: ₹1,215
➡️ Reason: Breakdown from triangle + rejection from resistance = sellers control.
🟢 BUY SETUP (Only if breakout) Buy above: ₹1,236 (strong volume breakout)
Stop Loss: ₹1,228
Targets:
T1: ₹1,242
T2: ₹1,248
➡️ Reason: Only valid if price closes above triangle.
⏱️ POSITIONAL VIEW 📆 SHORT TERM (1–5 Days) View: Bearish to range-bound
Strategy: Sell on rise near ₹1,235–1,240
Downside Target: ₹1,210–1,215
📅 MEDIUM TERM (2–4 Weeks) Trend: Neutral → Bearish
Below ₹1,220: Weak structure continues
Upside only if: Sustains above ₹1,250
🗓️ LONG TERM (3–6 Months) Trend: Neutral
Support Zone: ₹1,180–1,200 (strong base)
Investment view: Wait-and-watch, no aggressive buying yet
💰 WHICH SIDE MAKES MONEY? Intraday: 🔴 SELL SIDE
Short Term: 🔴 SELL ON RISE
Medium Term: ⚠️ Neutral to Bearish
Long Term: ⚠️ Sideways (accumulate only near major supports)
🧠 FINAL TRADING CONCLUSION Price is trapped in triangle and rejecting resistance
Breakdown below ₹1,228 = fast downside
Today’s edge clearly with SELLERS, unless strong upside breakout comes
No comments:
Post a Comment