Chart of the week. Axis Bank.

29 thg 10, 2022

Last week Axis bank gave a breakout above its all time high after very good results and the management commentary. Since May 19 the stock was continuously taking resistance at 826. This week and last week, the stock managed to get closing above it. As this company is fundamentally very good it is the right time to invest into the stock for long term. One can enter 50% at this price and rest 50% can be added around 840-860 levels. The targets are calculated as per Fibonacci. However, these are basic targets. Long term investor can see magic in this stock in future.

CMP - 903 (29/10/22) W
T - 955, 1160, 1370 W
SL - 820 W
View - Medium to Long term (2 years minimum)