AXIS BANK

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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.

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