After many attempts since the year 2019, Axis Bank has managed to close above the Rs 820 mark. A weekly close above Rs 820 might pull the stock into 4 digits.
In the last three years, the stock has failed to confirm the breakout. Thus, it will be an interesting candidate to go long for the coming sessions. High risk traders can buy the stock near Rs 825 for the given target.
Aegis Logistics (AEGISCHEM) has confirmed an inverse head and shoulder breakout on the daily chart. The breakout was accompanied with humongous volumes which indicates genuine accumulation. Even the momentum oscillators are positively poised on all time frames.
Thus, we advise traders to buy it in the range of Rs 300 - Rs 298 with a strict stop of Rs 285.
(Mehul Kothari - AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).
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