Axis Bank — A Big Whipsaw

This is one stock which i was pretty bullish on for short term and the stock has totally done the opposite!!

 

This is my previous post on a possible breakout talking about catching momentum

 

https://nooreshtech.co.in/2012/08/axis-bank-breakout.html

 

This is the chart as it looks now.

 

AxisBank 

 

The trades we initiated was first a buy around 1040/1080 could only book part at 1100-1120 and rest stopped out. Again initiated around 1020-1040 as support got stopped out yesterday at 980-985:(

 

The reason to put up this post is when you get a stoploss hit on a trade take it….

 

Technical Analysis Training Session Mumbai September 2nd week. For More details mail toanalyseindia@analyseindia.com with your contact details or call Nooresh 09819225396

Happy Investing,

Nooresh Merani

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