(Intraday) Descending Triangle Pattern on Axis Bank

1. Axis Bank has Form Descending Triangle Pattern on an Hour Chart.

2. But , there is no supply zone till the level of 465. So, It may face rejection from the Trend Line .

3. Sell below 448 Target:442 , 439 ,437,427 , 402 SL: 454

4. First time , I am sharing you the fundamental analysis of the stock here on TradeView

Pros:
A. National Wide Spread.
B. P/E is the Second Highest in the industry after HDFC Bank .

Cons:
A. In last three Years Promoter has withdrawal there 13% stack
B. PEG Ratio is -5.75 ( Really Bad)
C. Return is the lowest is the industry
D. Debt ratio is 10.5 Second highest after Yes Bank 12.5 ( Very High Debts)
E. Dividend Payout is low
F. Axis Bank Declare Loss of about 1300 Crore in the last Quarter.

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All target achieved til 427 , If you are positional Trader you will see 420, 416 , 402 in next few week

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Second Target Achieved

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Third target also achieved