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Axis Bank is trading below its support zone and for the last couple of weeks it experienced a bearish trend.Today its trading volume hiked by 56 %.We could enter the market below the 510 and as nearby resistance zone is 580 we could expect a fall in price and good target as well
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Bearish trend will happen after upward rally, since it is not uptrend it is disqualified pattern
Yes Senthil , unless a recent hike in price – an uptrend is not witnessed , we can’t consider Axis Bank : Bearish Engulfing to a right formation.
Thank You very much for your valuable feedback.
Latha