Axis Bank, Bajaj Auto, HUL: Here's how to trade result-driven stocks

The results outcome have seen profit booking on the gap up opening

Axis Bank Ltd (AXISBANK):  The two ways to analyse this counter are moving averages and price resistance. As the stock has moved above the 100-days moving average (DMA), the positive sentiment has grown even stronger. Axis Bank now needs to conquer Rs 500 levels to embark a new trend. The medium-term support comes in at 50-DMA, which is positioned at Rs 410 levels. The immediate support on a closing basis is at Rs 440. The overall trend looks bullish as price is moving upward with average volumes. CLICK HERE FOR THE CHART

HDFC Bank Ltd (HDFCBANK): This counter is attempting to stay above the 200-DMA with Relative Strength Index (RSI) witnessing bearish divergence. The trend looks mixed till such a scenario persists. That said, if the stock crosses Rs 1,150 levels decisively, a further upside towards Rs 1,250 is possible. The immediate closing basis support is at Rs 1,100 levels. A positive crossover of 50-DMA with 100-DMA suggests a positive bias for now. CLICK HERE FOR THE CHART

Hindustan Unilever Ltd (HINDUNILVR): With a “higher high, higher low “ formation, HUL is set for higher levels from a medium-to-long term perspective. The current weakness is by virtue of RSI coming out of the overbought condition. The trend remains optimistic till the MACD stays above the zero line, as per daily chart. The closing basis support remains at Rs 2,200 levels. CLICK HERE FOR THE CHART

Bajaj Finance Ltd (BAJFINANACE): The 200-DMA has become a resistance for Bajaj Finance placed at around Rs 3,475 levels. Going forward, till Bajaj Finance trades above Rs 3,000 levels, the positive bias will remain and the stock may regain the losing momentum. From a medium-term perspective, the overall trend remains positive.  The "Rising channel pattern” shows support  for this stock at around Rs 3,200 levels. CLICK HERE FOR THE CHART

Bajaj Auto Ltd (BAJAJ-AUTO): The counter has gradually surged to Rs 3,000 mark from the March, 2020 low of Rs 1,789. A sharp jump of nearly 70 per cent since then may see some profit booking come in. However, the outlook from a longer term stays highly optimistic. The rally since the last month has been on good volume supporting the price rise. The support is at Rs 2,807 levels, which is Bajaj Auto's 200-DMA. A strong close above Rs 3,000 should see more buying interest, charts suggest.  CLICK HERE FOR THE CHART