Mitesh Thacker, Technical Analyst, miteshthacker.com is of the view that Axis Bank can test Rs 900 in the long term.
Thacker told CNBC-TV18, "Banking sector has been outperforming the general market. We saw there is a lot of action and momentum in the banking stocks on Friday. We saw a good breakout in Axis bank above the Rs 811 level which is the level where the stock was not able to close above those levels in the previous rally. So I think a strong close on Friday indicated that some kind of momentum is expected to continue over the next few days. I think Rs 850 is the short-term target which I am looking at probably it can go higher to Rs 900 if you take a slightly longer term perspective."
Disclosure: I have recommended these stocks to our clients so you can assume that we have interest in the stocks.
