Axis completed a leading diagonal in the first decline and retraced 61.8% near 1250. Staying below this level and a move below 1140 should confirm wave 3 down. Our first target is around 1140 here we will analysis this stock once again. But considering the past behavior of Axis Bank we are suggesting the strick stop loss just above 1282 level that is above 78.6% retrace. Chances are less as wave 5 of as shown below is very strong and large.
Happy trading.
D.K
Happy trading.
D.K
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