Axis Bank Analysis

31 juil.

On a 1 hour chart we can see some consolidation on axis bank. Also note the previous week low. A trap could be laid out below Previous week low trapping the short sellers( a possible scenario).
I have marked a box around the consolidation area. Now I am looking for a potential fake breakdown of the box and then a move up inside the box/range targeting the opposite side.

Axis bank is very close to its demand zone on a daily chart and inside the golden ratio plotted using weekly chart. So for now I am not positionally bearish on axis bank.