#AxisBank

Seems big move coming up 👀
Looks bullish here at 751
Can do 785/795 in June series and 841 by July series
Invalid below 725

#AdaniEnt
#ElliottWaves

5 waves from March 2020 lows seem done now. Price confirmation is there.

Had a target of 2320+ for final wave 5.5 minimum and then head back to 1600 sub (we did 2420)

Now can head back to 1540 wave (4) low atleast.

#HdfcLtd

Entering demand zone

Look for reversal signs to enter long side

A small thread on the importance of using log charts:

Rs 100 of 1990 is not comparable with Rs 100 of 2021 in absolute terms

Similarly, price of a stock some years back may not be comparable with today's price in absolute terms.

For EG, SBI quoting at Rs 10 in 2002 is not comparable with SBI quoting at Rs 400 now

For a 100% jump in 2002, stock would have to reach 20 (which is just Rs 10 in absolute terms)

While today, Rs 10 in absolute terms is a meagre 2-3% move

We shall always calculate moves in % terms

For this reason it's preferred to use log charts, especially long term charts

Log charts calculate moves in % terms

Also, if a stock goes from 20 to 200 in one year, even then it's preferred to use log charts.

Bearish wave 3/c down setup on #HdfcTwins for short term

Negation level 1333.30 and 2218.

You can find #Nifty50 weekly charts in this thread👇
~ 1st weekend of April

10. #Bajajfinance
~ Expecting consolidation in near term
Verdict : Avoid fresh position

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

Axis Bank looks good before results. If 826 holds possible that it can test 870/900. cmp 846

The chart pattern working on a larger timeframe gives a broad perspective on the direction of the security and is easy to trade once you get a breakout. the easy way is to set the price alert & make money elsewhere.

Axis Bank

@idineshptl 👌😍

save as axisbank