As year have started I was looking all global market & indian sectors over last few days, I found relative strength in nifty financial compare to broader market. I see lot of good risk-adjusted reward opportunity !
Axisbank is coming out of 3 year base and making all time high. it has not touched oversold levels and hitting up over bought again and again ! This all evidence show that Axis bank should be long untill it is closing abv 652 with short term tgt 710+ & mid term tgt 805
I See till price is above 652 , i will be long ! I feel lot of guys will be worried about whipsaw that if it will hit sl and come again above 652 ? what to do? Sometime great trade give you such whipsaw but its a part of process to get risk adjusted opportunities over a long period. Dont shy to get back in if whipsaw occur. You should keep in mind the plan how you should trade. Why does this whipsaw happen ? Because as you have seen such opportunities in axis bank , there are lot of other people also involved in such opportunity , Market sometime try to hurt many people before to start new trend. You need to be more Discipline as trader to follow process to bring outcome what you always wished !
We will reevaluate our long bias if momentum regime turned bearish otherwise Give me your feedback or view at cs at niftymillionaire.com.
We have shared our Premium Report with Niftymillionaire member over last weeks where we find lot of good short term trading ideas where skewed risk-reward is available. You can whatsapp us on +919324855550 for any query or call us on 02230987899
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