We have been looking for the long term stocks because of the stocks in short term seems to be extremely volatile and it is extremely risky to go for the stock for short term. But while looking for long term pick, we came across Axis Bank. Axis bank is in a beautiful shape to rise from the current levels.
Though, market conditions will dominate individual stocks but if stock market can sustain their current level then Axis bank is having high chances of rising from here. Charts are showing extremely positive for growth from here. Indicators are indicating that stock is in overbought conditions and it is in current uptrend.
Current uptrend in Axis bank is good enough to sustain the current trend and this make Axis bank a good buy for the stock term. Though, as i have mentioned earlier that market condition may dominate and if stock market starts falling, then it may also fall.
Currently it is trading at 1143.90 at NSE (close as of september 20) and chance of moving above current levels are quite strong. It can easily move above in a range of Rs 30-50. So, short term traders can bag this opportunity to ride upon this upside.
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