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

More from Axisbank

You May Also Like

"I lied about my basic beliefs in order to keep a prestigious job. Now that it will be zero-cost to me, I have a few things to say."


We know that elite institutions like the one Flier was in (partial) charge of rely on irrelevant status markers like private school education, whiteness, legacy, and ability to charm an old white guy at an interview.

Harvard's discriminatory policies are becoming increasingly well known, across the political spectrum (see, e.g., the recent lawsuit on discrimination against East Asian applications.)

It's refreshing to hear a senior administrator admits to personally opposing policies that attempt to remedy these basic flaws. These are flaws that harm his institution's ability to do cutting-edge research and to serve the public.

Harvard is being eclipsed by institutions that have different ideas about how to run a 21st Century institution. Stanford, for one; the UC system; the "public Ivys".