Can I buy shares of Axis Bank at the current level?
AVOID AXIS BANK AND ENTER ABOVE RS 530
Axis Bank is currently trading at Rs 540. Its 52-week high/low stand at Rs 638/Rs 424.60 made on September 7, 2016 and January 10, 2016, respectively. The stock is trading in the range of Rs 480-530 since February 2017. The stock lacks volumes, while 14-period RSI is quoting at 58. The 20-period upper and lower Bollinger Bands are 523 and 496, which are not indicating any upside or downside for now. However, in case the stock breaks out of Rs 530 level with volumes, we can expect a huge upside in the stock. Hence, we suggest you to avoid for now and enter at Rs 530 level.