Friday, February 21, 2014

Axis Bank elliottwave Analysis

Hi friends,
                    Looking at Axis bank ,I see a small impulse on hourly time frame.
First lets look at the bigger picture of Axis bank.
Axis Bank elliottwave Analysis
From the chart we can see
it has made abcde from
september 2013 low
After finishing abcde
we did 1 small abc
in it And after that we
are doing a small impulse
in it.Lets look at the
smaller time frame chart
to get a better look at
the hourly impulse.

Axis Bank elliottwave Analysis
We see that a impulse
is in ending stage in
hourly timeframe
we can try a small
option trade or a short
trade in it on monday
near 1200 for a target
of 1150 or lower
we can even try 1150
put which is quoting
at 4 right now

Stop loss for this trade would be 1230 .



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