AXIS BANK; STOCK CALL

CMP 1180                BSE 17361

• The nearest reasonably strong support for the scrip is in the 1130-1150 range
• A closing below 1130 could take the stock down to about 1110 levels where exists a stronger support.
• The scrip is indeed volatile and the support band that really inspires confidence from a slightly longer term pespective is 1020-1050. I know it looks unlikely that the scrip will break 1110 on the downside, as of now, but Markets are strange creatures, as all of us know.
• Fundamentally speaking, the Stock is a must-have in any long term Portfolio.
• So simply put, my Call is a BUY ON DIPS; add more on supports mentioned above and hold for the next 12-18 months. Possible target 1550 plus over the next 12 months.

SEE ALL EARLIER POSTS ON AXIS BANK RIGHT HERE