Axis Bank Update
4 Sep 2020 ● 07:19 AM
Axis bank fell back to near 457, the 20dma, yes 61.8% should have held but did not, no one is god. But this is the last straw. After the breakout from the ascending triangle the decline can appear like a false breakout. But the decline is also on the back of very little volume. So it does not appear like panic selling yet. It could be a normal pullback if 457 holds ground on closing basis. A move back above 485 the yellow breakout line would add weight to the bullish ascending triangle setup.