Axis Bank can go to around Rs 1475-1500: Parag Doctor

Parag Doctor, Head of Trading Strategies at Keynote Capital feels Axis Bank can go to around Rs 1475-1500 levels in immediate term.

Doctor told CNBC-TV18, “In the immediate term there is momentum in Axis Bank. The stock can go to around Rs 1475-1500 kind of levels and there is resistance there. So, that is the upside for the time being but for the longer term if he is willing to hold on for a year like he said then it would be much higher, probably you will get a 15-20 percent further upsides from current levels over the next year, year and half or so.”
“So, you should hold on with the trailing stop loss for investments around the Rs 1200-1250 levels that is where the base for the stock for the time being and capitalise on that 15-20 percent upside over the next year or so,” Doctor added.