ICICI Bank, HDFC Bank, Axis Bank: Trading Strategies for these buzzing banking stocks

ICICI Bank, HDFC Bank, Axis Bank: Trading Strategies for these buzzing banking stocks

ICICI Bank formed a strong bullish candle on the daily chart with a huge gap-up opening, moving past its significant 50-EMA level of Rs 938.

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 Axis Bank, which saw a breakout above the Rs 1,045-1,055 zone, carried on with the positive momentum to keep the trend strong. Axis Bank, which saw a breakout above the Rs 1,045-1,055 zone, carried on with the positive momentum to keep the trend strong.
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Pawan Kumar Nahar
  • Dec 5, 2023,
  • Updated Dec 5, 2023 7:50 AM IST

Domestic equity markets kicked off the week on a strong note. The outcome of five state elections pushed the benchmark indices to fresh highs. The BSE Sensex jumped 1,383.93 points, or 2.05 per cent, to end at 68,865.12. The NSE Nifty rose about 418.90 points, or 2.07 per cent, to end the day at 20,686.80. Axis Bank has already indicated a strong breakout above the Rs 1,045-1,055 zone and has carried on with the positive move. It has the next near target at Rs 1,170-1,190 levels in coming days. From the prevailing level, the support should be maintained at Rs 1,055 level, below which the bias can turn a little bit weak.  

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Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

Also read: Honasa Consumer block deal: Fireside Ventures to sell 1.9% stake in Mamaearth parent, says report 

Also read: Stock recommendations by market analysts for December 5, 2023: ICICI Bank, Minda Corporation and Atul

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

Domestic equity markets kicked off the week on a strong note. The outcome of five state elections pushed the benchmark indices to fresh highs. The BSE Sensex jumped 1,383.93 points, or 2.05 per cent, to end at 68,865.12. The NSE Nifty rose about 418.90 points, or 2.07 per cent, to end the day at 20,686.80. Axis Bank has already indicated a strong breakout above the Rs 1,045-1,055 zone and has carried on with the positive move. It has the next near target at Rs 1,170-1,190 levels in coming days. From the prevailing level, the support should be maintained at Rs 1,055 level, below which the bias can turn a little bit weak.  

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Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

Also read: Honasa Consumer block deal: Fireside Ventures to sell 1.9% stake in Mamaearth parent, says report 

Also read: Stock recommendations by market analysts for December 5, 2023: ICICI Bank, Minda Corporation and Atul

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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