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
Daily line chart:
+ range breakout, with breakout candle size greater than the range it broke out of!
+ highest close since 25th Feb 2021
- unsure of whether we will see a follow-through or not
That was a quick wrap-up of Axis Bank as I see it. For a slightly deeper dialogue, check out the YouTube video. It's in Hinglish.

And do consider following me, I post a lot more than just these Nifty stocks analyses threads :)

https://t.co/IChRXS3htF

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