technical anlaysis of share price of axis bank
TRANSCRIPT
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8/3/2019 Technical Anlaysis of Share Price of AXIS BANK
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Presented by:Arun Sharma
Alok MishraAshish SinghMahima KohliMegha Gupta
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Following slides shows the analysis of AXISBANK LTD.
The parameters taken into consideration are:
Trend lineCandlestick Patterns shown
Chart Patterns
Moving Averages
OscillatorsFinally the recommendation for the investoris given taking into account the variousparameters.
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DOJI
White Spinning Tops
Marubozu
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The doji is a commonly found pattern in a candlestick chart offinancially traded assets (stocks, bonds, futures, etc). It ischaracterized by being small in lengthmeaning a smalltrading rangewith an opening and closing price that arevirtually equal.
The doji represents indecision in the market. A doji is not assignificant if the market is not clearly trending, as non-trending markets are inherently indicative of indecision. If thedoji forms in an uptrend or downtrend, this is normally seen assignificant, as it is a signal that the buyers are losingconviction when formed in an uptrend and a signal that sellersare losing conviction if seen in a downtrend
Neutral : Dojis form when the opening and closing prices arevirtually equal. Alone, dojis are neutral patterns.
Dragonfly: The long lower shadow suggests that the direction
of the trend may be nearing a major turning point.
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White Marubozu is long white body with no
shadows and which indicates the bullish
trend.
It usually becomes the first part of a bullishcontinuation or a bullish reversal patterns
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The spinning tops have longer shadow than
the real body .
The pattern indicates the indecision between
the bullish and bearish trends
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A moving average is the average price of a securityover a set amount of time. By plotting a
security's average price, the price movement is
smoothed out. Once the day-to-day fluctuations are
removed, traders are better able to identify the truetrend and increase the probability that it will work in
their favour.
Moving averages can be used to quickly identify
whether a security is moving in an uptrend or adowntrend depending on the direction of the moving
average.
Moving averages are used is to identify support and
resistance levels.
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A technical analysis tool that is banded
between two extreme values and built with
the results from a trend indicator for
discovering short-term overbought oroversold conditions. As the value of the
oscillator approaches the upper extreme
value the asset is deemed to be overbought,
and as it approaches the lower extreme it isdeemed to be oversold.
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Relative Strength Index (RSI) - shows when a
reversal is imminent
If the RSI is above 70, the market is generally
thought to be overbought, and an upwardtrend is likely to turn downward soon. Be
careful about entering a trade.
If the RSI is below 30, the market is generally
thought to be oversold, and a downwardtrend is likely to turn upward soon. Be
careful about entering trade.
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OVERBOUGHT ZONE
OVERSOLD ZONE
LONG /BUY
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The stock has shown a rally in the prices in
the current period from a low of Rs.800 to
the levels of Rs.900.
The stock stalled around its 20-DMA (simple,exponential and weighted , as seen in the
figure), which acts as a stiff resistance.
The immediate resistance level is 950, with
stop loss of Rs.859.We recommend the investor to buy at a price
range of Rs. 895-Rs.900 for short term at a
target of Rs.950 as resistance.