Axis Bank Share Price Prediction 3rd Dec 2015
Axis Bank Share Price continues to struggle as we have been predicting. The Charts are getting weaker by the day and we reiterate our prediction / forecast that Axis Bank will be leading the downside in the next round of mandi / bearishness. The chart structure currently panning out is exactly opposite that of IDBI. IDBI share is making higher tops and higher bottoms and Axis Bank share price is making lower tops and lower bottoms. As per our Axis Bank Share price analysis whenever the stock is over owned and such structures are being made each and every single time the share price has at least tanked by 20 percent and we feel future is nothing but a repetition of the past and hence we will see a selling panic in Axis Bank sooner than later.
Long short guys can buy IDBI and sell Axis Bank. So in a semi sluggish stock market this will be a decent strategy.
Axis Bank Minor Trend is down. Axis Bank Major Trend is also down. Axis Bank support and resistance for tomorrow is at 444 and 467. Break below 444 and we will see round 2 of havoc being played out In the stock price. I do not know the news flow in Axis Bank but charts are very clearly indicating that known or informed circle (generally these guys are in close proximity to the management of the day) These informed guys are selling and they are not even willing to wait for a bounce back (which in simple terms means those inside guys know the magnitude of the problem that is about to come out in the public domain later during Q3FY16 and Q4 FY16). We have alerted well in advance that we see structural issues beginning to come out in Q3FY16 onwards and most investors and traders will be stunned to see the revelations. Overall we maintain our targets of 378 for the Share Price.
Better to avoid this stock and switch to Renuka Sugar / Bajaj Hindustan or Eid Parry.
Good Trading To You!