Every few days, I analyse one stock from #nifty50. The last time, it was Reliance. Today, I'm taking a quick look at a stock that I've been talking about for a month—#AxisBank!
Video link at the end of the thread
#niftywithkr
Monthly:
• I find it cool how @Yuvraj2603 makes these channels esp on M charts so went with that, just to show how it's been an uptrend despite some dips.
+ overall trend bullish
+ RSI crossed above 60, and RSI 40's significance is evident.
- Price around the resistance zone
Weekly:
+ RSI 60
+ strong weekly close
- trend-based fib extension resistance
• next hurdle around ATH (marked)
• low volumes
Daily (fib):
• stuck between 61.8% and 78.6% of ATH to recent dip's retracement
+ RSI crossed above 60
+ very strong candle on Friday with high volumes
+ range breakout
- wasn't able to close above the FIB level (might not be that significant though)
Daily (trendline breakout):
• not a strict trendline IMO but illustrative to show how Friday's spike factors into the recent price action
