Stagnant movements in Axis Bank Ltd

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From the month of November 2019, there has been a constant movement in the stock price of Axis bank ltd which is also fifth largest Indian bank which offers various services including financial services to their clients. The bank’s stock has been performing consistently throughout the past 4-5 months as there was no much price movements shown in the market. Even though there were lot of problems faced by the baking sector over the years, Axis bank has been promisingly performing well in terms of service and stock price movements.



From the above graph, it is clear that the stock price of the bank has not faced any major downfall or a sudden rise in the price. The Bollinger Bands shows that the price movements have been occurring within the bandwidth and consistent rising and falling of prices can be seen once the candlesticks touches the lower and upper band. This shows that the upper and lower band can be used as support and resistance for the price movements and also there is no signal for a change in the trend of the stock price.



The Ichimoku cloud shows that the green cloud has broken and a new red cloud has been forming which is an indicator of downward trend. But the last candlestick formed shows bullish trend in the stock price as the prices have been increasing during the past two days and also the candlestick is moving past the cloud and also the resistance level.
Trading in this particular stock is highly profitable with well-developed strategy and also with support and resistance level which would indicate the price movements of the stock.

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