Axis Bank Share Price Prediction 1st Feb 2016
Few days back we had updated our view on Axis Bank Share Price here. Those who have not read that update please click here to do so (As we predicted on 27th Jan 2016 Axis Bank took resistance and has now fallen below 400 INR)
Axis Bank Share Price Minor Trend is neutral. Axis Bank Share Price Major Trend remains down / bearish. As per our Axis Bank Share Price Prediction / analysis of the counter we do not see any significant upsides till 435 spot Nse prices are taken out and if the share price fails to move above 435 before 2nd Feb 2016 we could see another round of slide in Axis Bank towards 361 nse spot prices mentioned. Extreme caution is advised in this counter as the structure is exhibiting and telling us that there could be more weakness in the next 7-10 trading days and that could create a panic slide in the stock price. Axis Bank has a time cycle support around 15th Feb 2016 only after 15th Feb 2016 does the time cycle and astro cycle become neutral till then down cycle will continue and we do not recommend to buy Axis bank under any circumstances. The charts have been making continuous classic lower tops and lower bottoms, till that continues we must totally avoid the stock. If long positions have to be taken in this counter then our advise is to please wait at least till 15th Feb 2016. Once astro cycle and time cycle support starts then we will have a fresh look as to what is to be done. Till then please avoid this counter. Frankly it has one of the worst structures in the Private Banking sector space. Please note this is not a recommendation to short sell Axis Bank.
Good Trading To You!