Axis Bank – Head & Shoulder Pattern

Between Jan 2018 & Feb 2018, there was formation of Head & Shoulders Pattern.

There was a small upward movement from October 2017 which reached a peak of Rs.620 from the bottom of Rs.449.

There was an above average traded volume.

After the right shoulders, the price crossed Rs.557 which is shorting point.

Short @ Rs.557

Stoploss -567.

Risk – Rs.10

Short covering @ Rs.547