Axis Bank Stock Price Forecast

Axis Bank Elliott Wave Counts

Axis Bank is into a clear upward trend which is confirmed by many of our analysis techniques. As you can see above, the Elliott wave counts for the EOD charts of Axis Bank, traded on the NSE, show a bullish possibility on three time frames, viz. the Intermediate, Minor and Minute. Approximate targets for the same are also displayed on the image, which are based on Fibonacci ratios.The stock could touch 1413 levels in the near future which is also confined by the Wolfe Wave patterns as depicted in the image below. The stock did cross over the 1-3-5 line and with some weakness had fallen back on it. In the last two trading sessions, Axis Bank did bounce off the support line and is poised for some bullish moves in the next few days.

Axis Bank Wolfe Waves

Some reversal dates as per Gann studies are the 29th of December, 5th January and the 9th of January. Gann studies hae predicted the probable reversal dates for the times to come. We simply need to follow what the stock prices and trade accordingly. As of now, long positions can be opened with an SL of 1307.

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