WANT TO BE A SUCCESSFUL TRADER or INVESTOR? LEARN FROM EXPERTS | CALL: +919108911590 | Info@tradingcoach.co.in

Axis Bank Stock- Low risk short term entry triggered

Axis Bank


As most of my clients know – I am already short in Axis bank stock, Since October 25 2015. Price action formed a high on October 23 2015 at 530.00 which clearly shows the previous key level respected. Large Gap further convinced my Bearish bias. I took several short positions on Axis bank stock since then. During the first week of November 2015- formation of flipped levels at 485.00 further influenced my short positions. I initially closed all positions at 450.00 on November 5 2015 on a net profit basis.
At the end of November, 3rd test Pattern indicated further bearish bias in the Axis bank stock. Now I have a short scratch trade in this stock. The Entry is around 466.00. So far so good, Price action is flirting around bias level at 459.50 as of today. If Price action breaks the bias level then, I will liquidate my existing short position at 446.34. Incase, Price action doesn’t break the key level, I will cover my short positions at 459.50. Traders should watch out for Price action at 457.00. Attempting a short position at the breakout of 457.00 in the shorter time frame is a low risk trade opportunity. Take profit level is kept at 446.34.This is a short term trade.

Note: I am not an analyst or registered with SEBI. I am a trader who trade for a living. So take my views with a pinch of salt.


Trading Predator

About the Author:

Balaji is a Speculator, Investor and Trader (All in All!!!) and self published author. Trading in the Markets since decade, have seen more ups and downs along with institutional trader's lifestyle. He usually trades Nifty, Bank Nifty, Commodities, Futures cum Options around both Indian and global Markets. Balaji applies highly analytical and systematic Price Action strategies He blogs passionately about Trading strategies, Price Action Trading, Technical analysis, Macro events, Market setups, Financial and Economical topics. Apart from Trading and Blogging, Balaji also mentors aspiring Traders and Investors on becoming successful in highly competitive financial Markets.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>