Despite the fall in the stock market, the stock price of Axis Bank has reached an all-time high.

because of axis Bank Avinash Gorakshkar, Head of Research, Profitmart Securities, said, “The market is buzzing with speculation that ICICI Bank and Axis Bank will post strong December quarter results. Due to the higher interest rate regime, most quality banks are expected to do so.” Margins report improvement and Axis Bank is no exception. Because Axis Bank shares are relatively more attractive ICICI BankBulls are showing buying interest in Axis Bank shares.

Bull trend expected to continue in Axis Bank shares Anuj Gupta, Vice President IIFL Securities Said, ‘Axis Bank shares have given breakout recently 925 at each level and it gave the first breakout 870 each level. Hence, the stock has given two breakouts on the chart pattern in recent sessions. The stock has strong support now 880 each level. One can start accumulating this scrip at current levels till it is above 900 level. It could hit four-digit numbers in the short term.”

Those having Axis Bank shares in their portfolio are advised to upgrade the trailing stop loss 920 each level,” said Anuj Gupta.

stock market today

The Nifty Bank index opened lower today and touched a low of 42,955, down nearly 1200 points from its life high of 44,151. Among other major benchmark indices, the Nifty 50 index touched a level of 18,202, down about 685 points from its lifetime high. BSE The Sensex hit a low of 61.102, down over 2500 points from its record high of 63,583.

Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint. We advise investors to do due diligence with certified experts before making any investment decision.