🧠 Technical Analysis:
AXISBANK has formed a textbook Cup and Handle pattern over the past few months. The breakout above the resistance zone around ₹1199 marks a potential start of a new bullish rally.
🔹 Cup Formation: Rounded bottom between Dec 2024 - Apr 2025
🔹 Handle Formation: Consolidation range in Oct - Dec 2024
🔹 Breakout Candle: Strong bullish candle with increasing volume
🔹 200 EMA: Price is now well above the 200 EMA, adding to the bullish bias
🎯 Targets:
Target 1: ₹1280
Target 2: ₹1320
These levels are based on the measured move technique and previous swing highs.
🛡️ Support:
Immediate support lies around the breakout zone near ₹1199
Next strong support is near ₹1090 (200 EMA)
📊 Volume:
Breakout accompanied by a surge in volume confirms buyer interest and validates the pattern.
📌 Conclusion:
AXISBANK is showing strong bullish momentum with a confirmed breakout from a well-defined Cup and Handle formation. As long as it sustains above ₹1199, the stock could potentially rally toward ₹1280 and ₹1320 in the coming sessions.
📅 Keep it on your radar for bullish continuation setups!
Disclaimer:
This analysis is shared purely for educational and informational purposes and should not be considered as financial advice or a recommendation to buy or sell any security. Always do your own research and consult with a qualified financial advisor before making any investment decisions. Trading and investing involve risk.
AXISBANK has formed a textbook Cup and Handle pattern over the past few months. The breakout above the resistance zone around ₹1199 marks a potential start of a new bullish rally.
🔹 Cup Formation: Rounded bottom between Dec 2024 - Apr 2025
🔹 Handle Formation: Consolidation range in Oct - Dec 2024
🔹 Breakout Candle: Strong bullish candle with increasing volume
🔹 200 EMA: Price is now well above the 200 EMA, adding to the bullish bias
🎯 Targets:
Target 1: ₹1280
Target 2: ₹1320
These levels are based on the measured move technique and previous swing highs.
🛡️ Support:
Immediate support lies around the breakout zone near ₹1199
Next strong support is near ₹1090 (200 EMA)
📊 Volume:
Breakout accompanied by a surge in volume confirms buyer interest and validates the pattern.
📌 Conclusion:
AXISBANK is showing strong bullish momentum with a confirmed breakout from a well-defined Cup and Handle formation. As long as it sustains above ₹1199, the stock could potentially rally toward ₹1280 and ₹1320 in the coming sessions.
📅 Keep it on your radar for bullish continuation setups!
Disclaimer:
This analysis is shared purely for educational and informational purposes and should not be considered as financial advice or a recommendation to buy or sell any security. Always do your own research and consult with a qualified financial advisor before making any investment decisions. Trading and investing involve risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.