Axis Bank Limited:
The price pattern is obvious that it has completed the impulsive wave completely and also started the formation of the wave A, soon there will be waves B & C landing the price at 1300 (38% retracement level). Good option for us now is to go short two lots of Mar future derivative of the stock at 1420 and wait for 1300. (i.e: 120x2(250)= Rs. 60,000). [Sl: 1460]
