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    HomeNewsBusinessSell Axis Bank, target Rs 510: Abhishek Mondal

    Sell Axis Bank, target Rs 510: Abhishek Mondal

    Moneycontrol News
    June 06, 2018 / 12:00 IST

    Abhishek Mondal

    Axis Bank has given breakdown from symmetrical triangle pattern around Rs 536-537 on Tuesday in the daily chart with moderate volumes.

    The Daily Relative Strength index (RSI) breakdown its 21 days average and showing downward momentum and MACD trading with a negative cross above zero line, which indicates that stock likely to move downward further.

    Traders can sell the stock after some technical bounce around Rs 536-538 with a stop loss above Rs 551 (closing) for the target of Rs 510.

    Disclaimer: The author is Research Analyst, Guiness Securities. The views and investment tips expressed by investment experts on moneycontrol.com are his own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

    Moneycontrol News
    first published: Jun 6, 2018 12:00 pm

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