The stock of Axis Bank began its recent rally in the final week of January on the back of the support at ₹940. On April 16, it broke out of a crucial resistance at ₹1,125, turning the outlook bullish.
Although the stock saw some moderation in price in recent sessions, the uptrend looks intact. This corrective decline is an opportunity to initiate fresh buys.
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While the downtrend might extend to ₹1,125, the stock is expected to resume the rally, which can lift the price to ₹1,280.
Participants can buy Axis Bank’s shares at ₹1,165 and at ₹1,125. Place initial stop-loss at ₹1,080. When the price touches ₹1,230, revise the stop-loss to ₹1,180. On a rally to ₹1,260, tighten the stop-loss to ₹1,230. Exit at ₹1,280.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
Published on April 28, 2025
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