Axis Bank Ltd. - Can we expect a fresh rally in this month?

My purpose is only to share knowledge through articles, many peoples have taken as advice. I am also a common person, doing chart analysis and sharing with you. Chart analysis means is only price moment prediction; it may be correct or wrong. However, if you went through our previous articles then no need to explain our winning ratio. Learn & Earn, add your own analysis too.

Axis Bank Ltd. is the third largest of the private-sector banks in India offering a comprehensive suite of financial products. The bank has its head office in Mumbai, Maharashtra. It has 4050 branches across the country as on 31 March 2019 and nine international offices. The bank employs over 55,000 people and had a market capitalization of ₹1.31 trillion (US$19 billion) (as on 31 March 2018).

Technical Overview of AXISBANK: This time we are doing an analysis of the monthly chart. No need to explain small things in long term analysis. As we can see the stock has given Triangle Breakout in the month of August 2018 and worked nicely from those levels. After breakout stock price has sustained for 4 months at the same levels. The stock has given fresh and great rally in the first month of New Year. In next month (February 2019) the stock has taken rest and then given again fresh rally in the month of March 2019. Same things have happened in the month of April and May. Now the stock has taken rest in the month of June, so we are expecting the same chart pattern in this month. Also, the stock price is trading near 52 weeks high and in the last 6 months stock has made a new 52 week high in every month.

The stock has recently started a new month. Long term investors go in Axis Bank with a stop loss of 755 on a closing basis. Targets are 850-900 or more.

Telegram : https://t.me/equitygamechanger/
Website    : https://www.money4me.in/

Disclaimer: The contents produced here are purely for educational purpose. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.