Technical Analysis of AXISBANK and MINDACORP

Stock name: Axis Bank Ltd.

Pattern: Double top pattern

Time frame: Daily

Observation:

Post-COVID, the stock experienced a consistent upward trend. However, between May and December 2024, it formed a double top pattern on the daily chart. Around December 20, 2024, the stock broke down from the pattern, accompanied by slightly above-average trading volume. Since the breakdown, it has shown consistent downward momentum, and if this persists, technical analysis indicates the stock may decline further. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.


You may add this to your watch list to understand further price action. 

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.


Stock name: Minda Corporation Ltd.

Pattern: Double bottom pattern

Time frame: Daily

Observation:

The stock, after cooling down from its all-time high in August 2024, the stock started moving in the downward direction. Between October 2024 and January 2025, it formed a double bottom pattern on the daily chart. On January 15, 2025, the stock broke out of this pattern with significant trading volume. If the breakout momentum sustains, technical analysis suggests the stock may experience further upside. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.


You may add this to your watch list to understand further price action. 

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.