Dips in Axis Bank shares ahead of Q4 results, buy, hold or exit?

stock market today: Axis Bank shares failed to maintain their early morning gains as investors are apprehensive of losses expected in the upcoming Q4FY23 results. Axis Bank share price opened with gains today but soon profit booking started in this banking stock and the stock touched the day’s low. 878.20 on NSE at Rs.

According to stock market watchers, Axis Bank shares are under pressure as the market is expecting losses for the private lender following the write-off in the Citi deal. However, net interest income, loan offtake and asset quality are expected to improve. He said that Axis Bank stock is looking positive on the chart pattern and it may go up 950 once it manages to close up 900 each level.”

axis bank share price outlook

Speaking on what the market is expecting from Axis Bank Q4 results, Saurabh Jain, Vice President – Research at SMC Global Securities Said, “The market is expecting stable quarterly numbers but the company is expected to make losses as its Citi deal has been written off. However, the market is expecting stable Q4 numbers from the private lender as it will generate better net interest Can declare income, debt.” offtake and asset quality numbers.”

Advising the strategy of buying on the decline axis Bank Shares, Anuj Gupta, Vice President – Research at IIFL Securities Said, “Axis Bank stock has found immediate support 870 level is a strong support 840 level. Upside the banking major has hit a hurdle 900 more 920 respectively. Buy on dips should be maintained as the stock is looking positive on the chart pattern.”

For those having Axis Bank shares in their portfolio, Sumeet Bagadia, Executive Director, Choice Broking said, “Those having this stock in their portfolio are advised to maintain trailing stop loss. 850 whereas fresh buy is advised on every major decline till Axis Bank is above 825 each level. after breaking the current barrier of Share can go up to 900 9502 each level in the short term.”

Axis Bank is all set to announce its fourth quarter results for the recently concluded financial year 2022-23. Axis is likely to face some of the impact of the Citi acquisition on the downside. Among positives, net interest income of lenders is seen to be strong in Q4, while credit-offtake is expected to be healthy, and asset quality may improve further. Overall earnings appear to be stable.

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.