Axis Bank- Symmetrical Triangle Breakout Awaited

1 Ara 2016

As seen after a strong downtrend, price has been contracting in a narrow range, making lower highs and higher lows (symmetrical triangle) in the hourly chart . A breakout with volumes either side would be our entry.

Maximum target as per pattern would be 20- 25 points once it gives a breakout.

I will keep this stock in watch list and review it once it gives a breakout.

2 Ara 2016

Not

skipped the trade. not convinced the breakdown.