wait for the retracement levels near to demand zone

Axis Bank closed at ₹1,243.95 on 16 September, up 1.93%. The 52-week range is ₹1,100.25–₹1,418.30, so the stock is still about 12% below its 52-week high. Fundamental Analysis Q1 FY27 was strong: Net profit: ₹7,114 crore, +23% YoY Net Interest Income: ₹14,646 crore, +8% YoY Gross NPA: 1.28% Net NPA: 0.39% Asset quality improved during the quarter. Consolidated Q1 FY27 net profit was ₹7,632 crore, +22.2% YoY, while total income increased 7% YoY. Key fundamental positives Strong profitability growth Healthy improvement in asset quality NII growth remains positive Large, diversified private-sector banking franchise Things to monitor Deposit growth and cost of deposits NIM trajectory Credit growth Slippages/NPAs Valuation Current market data shows P/E ~16.2x and P/B ~2.26x. Technical Analysis The technical structure is currently mixed/weak in the short term, despite the recent one-day recovery. Current technical readings show: RSI: around 47–51 → neutral MACD: negative 50-DMA: around ₹1,247 100-DMA: around ₹1,256 200-DMA: around ₹1,245 Short-term pivot: approximately ₹1,247. Important levels Resistance ₹1,250–₹1,255 ₹1,270 ₹1,280 ₹1,300 Support ₹1,230 ₹1,218 ₹1,200 ₹1,175–₹1,180 The ₹1,245–₹1,255 area is particularly important because it coincides with the 50/100/200-DMA region. A sustained move above this zone would improve the short-term chart structure.