Technical Report : :AXISBANK:: 15.04.2008 : LONG TERM BUY

[K.Karthik Raja]

Axis Bank Limited CMP :774
Segment: EQ
NSE Code: AXISBANK
Paidup Value 10
Face Value: 10
Market Lot: 1
ISIN Code : INE238A01026
Listing Date 16-NOV-1998
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Axis is expected to consolidate in a range of
700-780 levels in last few trading sessions. The
14-day RSI is indicating the stock to be in
the 'oversold' territory there by negating
any significant sell-off in near term.
Investors are advised to accumulate the
stock in the range of 775-820 levels for an
Long-term target of 870/979/1016/1105/1217.Axisbank has the strong
support @ 680/695 levels.
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Today Stock Movement
High: 795.00
Low: 755.60
Open: 790.00
Value: 79.24 Cr.
Volume: 1028093
10-day Avg. Vol: 1246752
Circuit Filters For Next Day: No Circuit Filters

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STOCK PERFORMANCE
52-Week Range (Low - High) : 436.20 - 1291.50
1.17% in 1 Week
-12.04% in 1 Month
62.31% in 1 Year
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Moving Averages for AXISBANK

SMA-7: 757.74 SMA-13: 768.36 SMA-26: 794.48 SMA-50: 901.59
SMA-200: 834.69
EMA-12: 770.71 EMA-26: 808.93 EMA-50: 864.67 EMA-200: 829.61
MACD: -38.22

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Volume (last/ 5 day average): 1028000 / 1084000
- 5 day RSI: 47 - no indication.
- 14 day RSI: 37 - Oversold.
- Williams % R(14): 45 (summation factor 100)
- Average Directional Index ADX: 36

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F & O UPDATE As on 11th April 2008 Current month futures for AXISBANK
closed at 762.50 (Rs. 2.55 PREMIUM) with a turnover of Rs. 44.64
Crores.Adds 51975 shares(5.74%) in open interest pushing the open
interest to 956925 shares
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Commentary For Trading/Invesment:AXISBANK
2 day swing: Buy given @ 751. Hold with SL 756
5 day swing: Buy given @ 798. Hold with SL 695
20 day swing: Buy above 895.
LONG TERM :Buy/Accumulate 775-820 levels for a Long-term target of
870/979/1016/1105/1217 All long positions in the stocks should be
protected with a stop loss placed below mentioned levels on a closing
basis.

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Disclaimer
The suggestions made herein are for information purposes and are not
recommendations to any person to buy or sell any securities. The
information is derived from various source that are deemed to be
reliable but its accuracy and completeness are not guaranteed.. The
company does not accept any liability for the use of this column.
Readers of this column who buy or sell securities based on the
information in this column are solely responsible for their actions.
And we won't be liable or responsible for any legal or financial
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