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Buy Axis Bank for target of Rs 704, SL of Rs 645: HDFC Securities

Nifty outlook and technical calls by Vinay Rajani, Technical & Derivatives Analyst at HDFC Securities

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Vinay Rajani Mumbai
Nifty outlook and technical calls by Vinay Rajani, Technical & Derivatives Analyst at HDFC Securities

Nifty likely remain bearish unless it closes above 10800.

On Tuesday, in last half an hour of trading, Nifty recouped all the intraday losses and closed with a “Doji” candlestick on the daily chart. Doji Candle indicates indecision between bulls and bears. Tuesday’s low which is 10583, has now become short term support in Nifty. However, overall trend would remain bearish unless Nifty surpasses 10800 on closing basis. Any level below 10583 could drag Nifty towards 10335 support.

Buy AXISBANK  
Target: Rs 704 
Stop Loss: Rs 645

The stock price has

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First Published: Jan 30 2019 | 6:22 AM IST

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