Topic Statement:
Axis Bank has rallied sharply over the past 10 sessions, but signs of short-term exhaustion and resistance suggest a potential pause or pullback.
Key Points:
- The recent price surge has filled the gap created on 18th July 2025, reaching a potential resistance zone
- MFI is elevated at 86, indicating the stock is highly overbought in the short term
- Candlesticks have formed a steep 70-degree ascent, reflecting sharp bullish intensity
- Price has jumped above both the 50 and 200-day EMAs, signaling strong momentum but potential overheating
- The stock may now consolidate below the 1200 level due to increased selling pressure
- The long-term bullish channel remains intact, as price bounced off the lower trendline support during its recent move
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Disclaimer
This article should not be interpreted as investment advice. For any investment decisions, consult a reputable financial advisor. The author and publisher are not responsible for any losses incurred by investors or traders based on the information provided.