Stocks
TUESDAY, APRIL 25, 2017
VALUE WAVE INVESMENT STOCK IDEAS:
TECHNO-FUNDA MEDIUM TO LONG TERM INVESTMENT IDEAS:
AXIS BANK
CMP-516.60
AXIS BANK has wave-(V) of 5 UP pending as per quarterly chart attached. It has also completed short term correction as per daily chart attached. It closed near break out levels as per daily chart attached. Sustain above break out levels will lead to sharp upside till 560-580 levels in short term as per chart attached. It has strong support around 480 levels in short term from trading perspectives.
From medium term perspectives, one can expect targets of around at least 700/750 for wave-(V) of 5 as per chart attached. It has strong support around 424 levels from medium term perspectives.
It’s also at the verge of break out levels as per daily chart attached. Risk rewards are favourable to BUY for value wave investor for medium to long term investment perspectives as current levels from both fundamental & technical perspectives.
One should buy at current market price or any kind of decline or consolidation with SL-424 for such positional targets of around 700/750 levels in medium to long term. One should keep time horizon for around 1-2 years for such targets.