Investors can initiate buy with a target at Rs 650 while a stop loss can be placed at Rs 530, says Manav Chopra of Indiabulls Ventures.
Moneycontrol Contributor
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Manav Chopra
Recently, Axis Bank has broken out of the long-term triangle on the weekly charts, which is now retesting its earlier resistance levels.
These levels are now likely to act as strong support. One can buy Axis Bank from these levels as the structure is bullish and the risk reward is favourable.
Investors can initiate buy with a target at Rs 650 while a stop loss can be placed at Rs 530.
Disclaimer: The author is CMT, Head of Research at Indiabulls Ventures. The views and investment tips expressed by investment expert on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.First Published on Oct 8, 2018 10:53 am