Axis Bank - Range bound, Expect 1150

Axis Bank is showing a clear triple-top type structure around ₹1,380–1,400, with repeated rejection from that zone. The immediate resistance is around ₹1,290, which also coincides with the gap/resistance zone visible on the chart. With the stock currently near ₹1,230, the reward-to-risk is not attractive for a fresh entry at present. The better strategy is to wait for lower levels rather than chase the stock here. ₹1,150 is the key support/demand zone and could offer a much better risk-reward opportunity if price stabilises there. For now, I would remain patient: ₹1,290 is the immediate resistance, ₹1,150 is the preferred buying zone, and a move back above ₹1,290 would change the setup positively. The stock has also recently been trading below its short-term moving averages, supporting a cautious approach.