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Keep Rs 397.50 stoploss in Axis Bank: Mohoni
Technical Analyst, Deepak Mohoni is of the view that one can keep Rs 397.50 stoploss in Axis Bank. Should the stock stay above it and the market go up then he/she will be back in the black but otherwise if there is a reversal and the persistent decline, then he/she will need to protect his/her capital to whatever extent one can.
Technical Analyst, Deepak Mohoni is of the view that one can keep Rs 397.50 stoploss in Axis Bank .
Mohoni told CNBC-TV18, "In Axis Bank one should probably have a tighter stoploss, today's low would be a good stoploss and that is about Rs 397.50. Should the stock stay above it and the market go up then he/she will be back in the black but otherwise if there is a reversal and the persistent decline, then he/she will need to protect his/her capital to whatever extent one can. So Rs 397.50 as a stoploss, which can be raised slowly as the stock shows more ups and downs on a rally."
Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.
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