Techncial Analysis:Bank Nifty and Axis Bank

By | March 5, 2012

Axis Bank

Axis has formed a DOJI pattern with a close below 20EMA. Supply is coming from upper trendline.

Sell below 1144 Tgt 1132,1120 and 1108

Buy above 1174 Tgt 1190,1210 and 1220

 

Bank Nifty

Taking Support at trendline as shown in above chart.Break and close  below 10160 will add to short term bearishness. Closed below 20 SMA also.Trading in a downward falling channel

 

Sell below 10403 Tgt 10340,10223 and 10160

Buy above 10500 Tgt 10530,10584,10614 and 10667

 

 

 

 

Leave a Reply