AXIS BANK 1D TF Analysis -2/18

Pattern -- Elliot wave impulse formation
Current wave - Wave E
reason:
1) wave D not overlap wave A territory( check in monthly chart)
2) Wave E reached 1.618(1162) level of FIB.(Before it look a resistance at 1.232(955)level of fib).

Daily TF Analysis:
1) It look resistance at 1.618 level +highest OI
2) Histogram showing some weakness in MACD
3) RSI revering (Momentum fading down).

Immediate S&R:
Support -1109-1100
Resistance -1162

As per parallel channel pattern it may reach 1370( 2 level of Fib if it breaks 1162 level.