Today's Opening - 535
Today's High - 538
Today's Low - 522
Today's Closing - 527
I am writing on this stock for the first time ever. Axis Bank has frequently been in news (including few negative ones), the recent one pertaining to their MD's scheduled pre-mature exit.
Negative closing today for the third day in a row, with low volumes. The stock has closed lower than the 5-day Exponential Moving Average on these three days.
The 2-day Relative Strength Index has been hovering around the 50% mark. The Positive Directional Index has been stronger than the Positive Directional Index continuously since 27th April.
The 12, 26-day Moving Average Convergence Divergence has managed to remain positive for the most part of May. The 20-day Commodity Channel Index too has been able to remain positive for the most of May.
Axis Bank has a strong support at 481 and has a resistance at 564. The stock has remained range bound for some time now. Wait and watch is the best approach for this stock right now.
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