Axis Bank hits lifetime high; chart suggests more upside

  • Axis bank has been in a strong uptrend after the outcome of Q3 result.
  • The stock has a breakout-gap in the daily chart on Jan 30, 2019.
  • The stock moved past the major resistance and currently settled at an all-time high of 726 level on Feb 1, 2019.

  • Stock up 14.35 pct in the past one-month compared with the sub-index Nifty Bank which fell over 1 percent.
  • The immediate support is around 650 level.
  • The stock is well placed above 21 day moving average.
  • The recent development in the stock suggests for the more upside movement.