🧠 Technical Analysis:
AXISBANK has formed a textbook Cup and Handle pattern over the past few months. The breakout above the resistance zone around ₹1199 marks a potential start of a new bullish rally.
🔹 Cup Formation: Rounded bottom between Dec 2024 - Apr 2025
🔹 Handle Formation: Consolidation range in Oct - Dec 2024
🔹 Breakout Candle: Strong bullish candle with increasing volume
🔹 200 EMA: Price is now well above the 200 EMA, adding to the bullish bias
🎯 Targets:
Target 1: ₹1280
Target 2: ₹1320
These levels are based on the measured move technique and previous swing highs.
🛡️ Support:
Immediate support lies around the breakout zone near ₹1199
Next strong support is near ₹1090 (200 EMA)
📊 Volume:
Breakout accompanied by a surge in volume confirms buyer interest and validates the pattern.
📌 Conclusion:
AXISBANK is showing strong bullish momentum with a confirmed breakout from a well-defined Cup and Handle formation. As long as it sustains above ₹1199, the stock could potentially rally toward ₹1280 and ₹1320 in the coming sessions.
📅 Keep it on your radar for bullish continuation setups!
Disclaimer:
This analysis is shared purely for educational and informational purposes and should not be considered as financial advice or a recommendation to buy or sell any security. Always do your own research and consult with a qualified financial advisor before making any investment decisions. Trading and investing involve risk.
AXISBANK has formed a textbook Cup and Handle pattern over the past few months. The breakout above the resistance zone around ₹1199 marks a potential start of a new bullish rally.
🔹 Cup Formation: Rounded bottom between Dec 2024 - Apr 2025
🔹 Handle Formation: Consolidation range in Oct - Dec 2024
🔹 Breakout Candle: Strong bullish candle with increasing volume
🔹 200 EMA: Price is now well above the 200 EMA, adding to the bullish bias
🎯 Targets:
Target 1: ₹1280
Target 2: ₹1320
These levels are based on the measured move technique and previous swing highs.
🛡️ Support:
Immediate support lies around the breakout zone near ₹1199
Next strong support is near ₹1090 (200 EMA)
📊 Volume:
Breakout accompanied by a surge in volume confirms buyer interest and validates the pattern.
📌 Conclusion:
AXISBANK is showing strong bullish momentum with a confirmed breakout from a well-defined Cup and Handle formation. As long as it sustains above ₹1199, the stock could potentially rally toward ₹1280 and ₹1320 in the coming sessions.
📅 Keep it on your radar for bullish continuation setups!
Disclaimer:
This analysis is shared purely for educational and informational purposes and should not be considered as financial advice or a recommendation to buy or sell any security. Always do your own research and consult with a qualified financial advisor before making any investment decisions. Trading and investing involve risk.
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.