📊 Axis Bank – Monthly Chart Analysis
Potential Short Opportunity
Double Top Formation:
Price has formed a clear double top pattern near the ₹1300–₹1350 zone, indicating strong resistance.
Bearish Divergence (RSI):
Momentum indicator (RSI) is showing lower highs while price formed higher highs — a classic sign of weakening bullish momentum.
Evening Star Pattern (Monthly):
A confirmed evening star candlestick pattern on the monthly timeframe strengthens the probability of a medium-term reversal.
📉 Trading Strategy
Sell Zone: ₹1280 – ₹1320 (on pullback/rise)
Target 1: ₹1050
Target 2: ₹950
Potential Short Opportunity
Double Top Formation:
Price has formed a clear double top pattern near the ₹1300–₹1350 zone, indicating strong resistance.
Bearish Divergence (RSI):
Momentum indicator (RSI) is showing lower highs while price formed higher highs — a classic sign of weakening bullish momentum.
Evening Star Pattern (Monthly):
A confirmed evening star candlestick pattern on the monthly timeframe strengthens the probability of a medium-term reversal.
📉 Trading Strategy
Sell Zone: ₹1280 – ₹1320 (on pullback/rise)
Target 1: ₹1050
Target 2: ₹950
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.