Axis Bank Limited Stock Forecast
Stronger technical forecast for Axis Bank Limited stock price after Wednesday trading.
(Updated on May 22, 2024)
The Axis Bank Limited stock price fell by -1.02% on the last day (Wednesday, 22nd May 2024) from ₹1,137.65 to ₹1,126.00. During the last trading day the stock fluctuated 2.15% from a day low at ₹1,117.95 to a day high of ₹1,142.00. The price has risen in 5 of the last 10 days but is still down by -0.23% for this period. Volume has increased on the last day by 932 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 9 million shares were bought and sold for approximately ₹10.24 billion.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.19% during the next 3 months and, with a 90% probability hold a price between ₹1,117.22 and ₹1,256.72 at the end of this 3-month period.
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AXISBANK.NS Signals & Forecast
The Axis Bank Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹1,133.79. On a fall, the stock will find some support from the long-term average at approximately ₹1,104.64. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 0.93%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Axis Bank Limited stock
Axis Bank Limited finds support from accumulated volume at ₹1,073.45 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹24.05 (2.15%) between high and low. For the last week, the stock has had daily average volatility of 1.66%.
Our recommended stop-loss: ₹1,068.04 (-5.15%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (AXISBANK.NS) For The Upcoming Trading Day Of Thursday 23rd
For the upcoming trading day on Thursday, 23rd we expect Axis Bank Limited to open at ₹1,128.65, and during the day (based on 14 day Average True Range), to move between ₹1,104.54 and ₹1,147.46, which gives a possible trading interval of +/-₹21.46 (+/-1.91%) up or down from last closing price. If Axis Bank Limited takes out the full calculated possible swing range there will be an estimated 3.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹1,127.00 (0.09%) than the support at ₹1,073.45 (4.67%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Axis Bank Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Axis Bank Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.570 Buy Candidate Upgraded
Predicted Opening Price for Axis Bank Limited of Thursday, May 23, 2024
Fair opening price May 23, 2024 | Current price |
---|---|
₹1,128.65 ( 0.235%) | ₹1,126.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AXISBANK.NS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1,152.70 | 2.37 % | |
R2 | 1,143.51 | 1.56 % | ||
R1 | 1,137.84 | 1.05 % | ||
Current price: | 1,126.00 | |||
Support | S1 | 1,119.46 | -0.581 % | |
S2 | 1,113.79 | -1.08 % | ||
S3 | 1,104.60 | -1.90 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1,165.90 | 3.54 % | |
R2 | 1,159.25 | 2.95 % | ||
R1 | 1,127.00 | 0.0888 % | ||
Current price | 1,126.00 | |||
Support | S1 | 1,073.45 | -4.67% | |
S2 | 1,047.20 | -7.00% | ||
S3 | 1,029.10 | -8.61% |
AXISBANK Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 12, 2024 | Jul 12, 2024 | Aug 01, 2024 | ₹1.00 | 0.0888% |
2 | Jul 07, 2023 | Jul 07, 2023 | Jul 07, 2023 | ₹1.00 | 0.102% |
3 | Jul 06, 2023 | Jul 06, 2023 | Jul 06, 2023 | ₹1.00 | 0.102% |
4 | Jul 07, 2022 | Jul 07, 2022 | Jul 07, 2022 | ₹1.00 | 0.152% |
5 | Apr 25, 2019 | Jul 04, 2019 | Jul 22, 2019 | ₹1.00 | 0.137% |
FAQ
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