Axis Bank Limited (Weekly Chart)

Cup Completion → Fresh Breakout Into Expansion Phase CMP: ₹1,395 Breakout Level: ₹1,340 Structure Bias: Strong Bullish 🟢 1-Year Rounding Base Completed Clear structure visible: Left top: ~₹1,340 Bottom: ~₹1,000–₹1,050 Right side recovery complete Clean breakout above ₹1,340 This is a high timeframe bullish continuation pattern. Long consolidation → strong breakout. 📐 Measured Move Projection Cup depth ≈ ₹340–₹380 Breakout target: ₹1,340 + ₹380 ≈ 🎯 ₹1,700–₹1,750 Your projected 28% move aligns well with classical measurement. 📊 EMA Structure ✔ Price above 26 EMA ✔ 26 above 52 EMA ✔ All above 225 EMA ✔ 225 EMA rising This is ideal trend alignment. Momentum structure is strong. 🌊 Elliott Wave Perspective Likely count: Wave (1): ₹700 → ₹1,340 Wave (2): Rounded correction to ₹1,000 Wave (3): Now underway Wave 3 often strongest → ₹1,700+ possible. 🔑 Key Levels Support: ₹1,340 (breakout zone) ₹1,260 ₹1,200 Resistance: ₹1,500 (psychological) ₹1,700–₹1,750 (measured move) Invalidation: Weekly close back below ₹1,300. 🏦 Sector Context Private banks showing relative strength: • Credit growth steady • Asset quality stable • PSU banks already ran hard Rotation into large private banks possible. 🎯 Professional View This is not early accumulation. This is confirmed breakout with trend alignment. Dips likely bought. Strategy: • Positional: Hold for ₹1,700 • Swing: Trail stop below ₹1,300 • Fresh entry: On minor pullback near ₹1,340