Axis Bank is currently trading within a defined price channel, showing a clear pattern of highs and lows. The support level near ₹1130 presents a key buying opportunity for traders, as the price has consistently bounced back from this level. This creates an edge for traders who prefer entering near support, offering a favorable risk-to-reward ratio.
In this case, you can capitalize on the potential upward movement with proper stop-loss placement just below the support and targeting the upper channel range. Monitoring the volume near this level can also confirm a strong price action rebound.
Consider pairing this technical setup with any relevant fundamental factors to strengthen the trade's probability of success.
In this case, you can capitalize on the potential upward movement with proper stop-loss placement just below the support and targeting the upper channel range. Monitoring the volume near this level can also confirm a strong price action rebound.
Consider pairing this technical setup with any relevant fundamental factors to strengthen the trade's probability of success.
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