Hi Traders, I was studying the PA of AxisBank and noticed that at ATH level, set up is suggesting that relative volume is healthy and up volume is stronger than down volume.
Usually this combination of price at ATH and still strong up volume and healthy close > open PA, stocks tend to attempt higher levels which is what AxisBank may also be doing. Chart suggests it will attempt to touch 1370 giving an upside of 14% from current level. Let's see in a few weeks.
This is study is for my personal reference.
If any of you find it of interest and wish to share your views, I would be happy to hear it.
All the best.
Usually this combination of price at ATH and still strong up volume and healthy close > open PA, stocks tend to attempt higher levels which is what AxisBank may also be doing. Chart suggests it will attempt to touch 1370 giving an upside of 14% from current level. Let's see in a few weeks.
This is study is for my personal reference.
If any of you find it of interest and wish to share your views, I would be happy to hear it.
All the best.
