Axis Bank looks north

Another banking stock is looking good… Axis bank could rise to 680 as the daily chart is reporting a bullish divergence of the RSI

5- and 10-day EMAs have bottomed out and the stock has formed a nice bull hammer today with lower wicks marking a quick recovery from sub-5, 10-day EMA levels.

03.Axis Bank Limited - DAILY-N

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HDFC Bank could rise to 2270-2280

HDFC has bounced up from levels near 2200 for the third straight day, validating Friday’s bullish inside bar candle, daily MACD’s bullish turn, and the RSI’s breach of the falling trendline last week.

The stock price can rise to 2239 by day’s end and will likely extend gains to 2270-2280 (falling trendline) hurdle next week.

I would want to be a seller if the price finds acceptance under 2200.

01.Hdfc Bank Ltd. -  DAILY-S1.png

Buy Banknifty

Buy at the current price of 27,800 for target 28,600 with stops below 27,683

Rationale

Bank nifty created a bullish inside bar pattern on Wednesday.

The MACD has crossed above zero, confirming a bull reversal.

The RSI breached the descending trendline earlier this month.

01.Nifty Bank.IX -  DAILY-S1.png