Axis Bank Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Weaker technical forecast for Axis Bank Limited as stock downgraded to Buy Candidate.
(Updated on Jun 21, 2024)
The Axis Bank Limited stock price fell by -0.165% on the last day (Friday, 21st Jun 2024) from ₹1,239.50 to ₹1,237.45. During the last trading day the stock fluctuated 1.82% from a day low at ₹1,223.75 to a day high of ₹1,246.00. The price has risen in 6 of the last 10 days and is up by 5.68% over the past 2 weeks. Volume has increased on the last day by 21 million 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, 29 million shares were bought and sold for approximately ₹36.27 billion.
The stock lies in the upper part of a strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ₹1,242.41 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 16.66% during the next 3 months and, with a 90% probability hold a price between ₹1,347.38 and ₹1,449.45 at the end of this 3-month period.
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AXISBANK.NS Signals & Forecast
The Axis Bank Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹1,205.59 and ₹1,165.04. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -0.165%. Further fall is indicated until a new bottom pivot has been found. 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
On the downside, the stock finds support just below today's level from accumulated volume at ₹1,131.25 and ₹1,127.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Axis Bank Limited finds support just below today's level at ₹1,131.25. If this is broken, then the next support from accumulated volume will be at ₹1,127.00 and ₹1,047.20.
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 ₹22.25 (1.82%) between high and low. For the last week, the stock has had daily average volatility of 2.15%.
Our recommended stop-loss: ₹1,202.72 (-2.81%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (AXISBANK.NS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Axis Bank Limited to open at ₹1,235.73, and during the day (based on 14 day Average True Range), to move between ₹1,206.42 and ₹1,268.48, which gives a possible trading interval of +/-₹31.03 (+/-2.51%) up or down from last closing price. If Axis Bank Limited takes out the full calculated possible swing range there will be an estimated 5.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹1,239.50 (0.17%) than the support at ₹1,131.25 (8.58%), 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 2.722 Buy Candidate Downgraded
Predicted Opening Price for Axis Bank Limited of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ₹1,235.73 ( 0.139%) | ₹1,237.45 |
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 | |
|---|---|---|
| R3 | 1,257.98 | 1.66% |
| R2 | 1,249.48 | 0.97% |
| R1 | 1,244.23 | 0.548% |
| Price | 1,237.45 | |
| S1 | 1,227.23 | -0.83% |
| S2 | 1,221.98 | -1.25% |
| S3 | 1,213.48 | -1.94% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 1,239.50 | 0.166% |
| Price | 1,237.45 | |
| S1 | 1,131.25 | -8.58% |
| S2 | 1,127.00 | -8.93% |
| S3 | 1,047.20 | -15.37% |
AXISBANK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 12, 2024 | Jul 12, 2024 | Aug 01, 2024 | ₹1.00 | 0.0808% |
| 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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