Movers & Shakers: Stocks that will see action this week
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Axis Bank, Indegene, and FSN E-Commerce Ventures are stocks to watch this week.
- ✓Axis Bank crossed a barrier at ₹1,280, showing a positive trend.
- ✓Indegene maintains a positive inclination, while FSN E-Commerce Ventures shows buying interest.
Story at a Glance
- Category
- MARKET
- Reported By
- Business Line
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Axis Bank (₹1,286.45)
Surpasses a barrier
The stock of Axis Bank has been rallying over the last three weeks. It bounced off the support at ₹1,175. The uptick has now taken the stock above a barrier at ₹1,280, a notable indication that the short-term trend has turned positive. From the current level of ₹1,286, we might see a price correction to ₹1,240. But then, it can resume the rally and rise to retest the barrier at ₹1,400. Therefore, traders can go long now at ₹1,286 and buy more shares if the price drops to ₹1,240. Place stop-loss at ₹1,200. When the price hits ₹1,340, raise the stop-loss to ₹1,300. On a rally to ₹1,380, tighten the stop-loss to ₹1,360. Exit at ₹1,400.
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Business Line
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