Axis Bank Share Price Prediction 22nd Dec 2015
Axis Bank Share Price has been consolidating since past few trading days and many investors and traders have asked me when to buy the stock and my answer is do not buy this stock. We have been very clearly updating that we do not see Axis Bank share price outperforming rather on the contrary as per our analysis / Axis Bank Share prediction we see the stock price under performing the broader bench mark indices and we do not wish to recommend or see any logic in buying a stock which we see is clearly going to under perform the broader Indian Stock Market and Nifty.
Axis Bank Minor Trend is down. Axis Bank Major Trend is also down. On any rise or bounce back as per our analysis it will be better to exit the stock and move to something more better like Renuka Sugar or Bajaj Hindustan or Eid Parry. (Please note the view discussed here is not for intraday or short term but it is from a positional stand point, if you are trading only on the basis of this post please user appropriate risk management and then only trade)
The longer term structure looks to be very weak as we have been predicting / forecasting and there is no change in the longer term structure or even in the shorter term structure. Whenever stocks make such structures / price charts it is a very clear given that something is not well in the counter. In the case of Axis Bank the charts are clearly suggesting that the informed circle or the smart money knows something terribly has gone wrong and that is the reason they are dumping the share / stock at every given opportunity. Hence we always have been saying news will always trail and is always a lagging indicator. So do not wait for the news to be out. We expect some really bad set of numbers in Q3FY16 and once the news gets public or during that time we can expect a panic bottom formation to happen.
Good Trading To You!