Axis bank currently trading in the bottom of Rising Channel, Which is the possible termination point of wave 4. If Wave 4 holds around ₹1,050–1,080, then possible Target on upside (wave 5) will be arround 1350 & 1450 ( As per Fibonacci Extension)with a stoploss of 1010Rs.
Wave count
Wave 1: Started in 2020, ended Oct 2021.
Wave 2: Corrective pullback into 2022.
Wave 3: Strong impulsive rally start July 2022 & ended in July 2024.
Wave 4: Current correction in 2024–2025, touching the lower boundary of channel.
If valid, Wave 5 is pending, Which will move the stock in 1350 to 1450 Range
It's not a buy or sell recommendation ...For education only
Wave count
Wave 1: Started in 2020, ended Oct 2021.
Wave 2: Corrective pullback into 2022.
Wave 3: Strong impulsive rally start July 2022 & ended in July 2024.
Wave 4: Current correction in 2024–2025, touching the lower boundary of channel.
If valid, Wave 5 is pending, Which will move the stock in 1350 to 1450 Range
It's not a buy or sell recommendation ...For education only
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