Axis Bank has been trading between 480 and 520/530 level. Pretty solid consolidation. Hence we could execute a simple strategy of shorting @ 520/530 level with stop above 535 and go long once we see the price around 480 with 475 as stop. Options writing also looks good to me.
Big move can be expected once the consolidation is broken out as the script could attract new interest (also stop triggering) after getting out of the range which has been holding since February of this year.
Big move can be expected once the consolidation is broken out as the script could attract new interest (also stop triggering) after getting out of the range which has been holding since February of this year.