Axis Bank Stock Analysis-20Feb2020

Axis Bank has been very resilient in last 6 months, and has shown very strong support at 700 level. At the same time, there is also a strong resistance at 760 level. The daily chart of Axis Bank is bullish and the stock is looking for a breakout above 760.

The stock is currently undergoing major consolidation at 700-750 band, which means whenever it breakout, there will be 10-20 percent upmove with target 860-900.

Axis Bank is a top pick for India Investors, and will give good gains once economic recovery starts in India. Investors can accumulate Axis Bank on all corrections till 620, but not below 620. Traders can keep buying above 700 for target 750. Fresh long positions should be added above 760 for target 800-860.

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