Buy Axis Bank for a target of Rs 690, stop loss of Rs 600: HDFC Securities

Technical calls and outlook on Nifty by Vinay Rajani, technical analyst at HDFC Securities:

Nifty View

Nifty has been registering new all-time highs day by day and has reached above 11,570. Nifty is in continuation of an uptrend and next resistance is seen at 11,768, which happened to be Fibonacci extension levels of the recent swings. As far as support is concerned 11,500 would be the key level to watch out for.

Buy Axis Bank

Target: Rs 690

Stop-loss: Rs 600

Symmetrical Triangle breakout on the monthly charts, indicating a continuation of an uptrend. Breakout from consolidation, which held for last 14 quarters. Volumes have been