Axis Bank has support at Rs 650-700: R Jain

Rajesh Jain of SMC Global Securities is of the view that Axis Bank has strong support between Rs 650-700.

Jain told CNBC-TV18, "Axis Bank has fallen along with the other banks but comparatively its fallen less. It has got strong support between Rs 650-700 levels and market might have another 5-10% maximum fall. If it trades above Rs 800 then we might see a momentum, till then I expect a sideways consolidation move to come in the stock before it really moves up. One can currently hold on."

Disclosure: Analyst doesn't hold the above stock.