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AXIS BANK Stock Tips Share witnessing selling pressure from resistance - Updated on 20th April 2015, Monday


AXIS BANK


Stock witnessing selling pressure from fibonacci retracement as shown above, technical indicates bears will be favored as long as it holds below and further price fall can be seen once AXIS Bank closes and holds below its previous bottom as shown in above technical chart.

Visit our site fi-advisor.com for more free stock tips on Indian Stock Market

Stock was on news - Life Insurance Corporation Of India (LIC) buys 0.18% stake in Axis Bank for Rs.243 Cr. The shares are purchased by LIC from open market, company has bought approx 43 lakhs shares during April 13-17 in year 2015 after buying these shares LIC has increased its total stake to 12.4% or 28,55,35,806.

NIFTY FUTURES will find strong trend line support in hourly chart - Updated on 20th April 2015, Monday.


NIFTY FUTURES


As explained in our previous chart nifty futures is witnessing selling pressure from its resistance but close watch hourly chart indicates stock will find strong trend line support if falls further so bulls will now have some hopes for bounce back.

Indian stock market is expecting to open flat as other Asian markets like Nikkei, Hang Seng Index and Shanghai trading in flat zone moreover SGX Nifty is indicating a marginally down side that is -5pts. China also announced a cut in RRR (reserve requirement ratio) but market are not reacting on this news. Click here to read our article on what is Nifty and what is Nifty futures.

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