AXISBANK daily chart is indicating a potential turn lower after having hit 1340 high, terminating Intermediate Wave (5) Orange. The stock might have terminated its religious uptrend and turned lower against 1340 mark.

The stock had terminated its Intermediate Wave (4) Orange around 620 mark in June 2022. Since then, we can observe a clear five wave rally Minor Waves 1 through 5, terminating around 1340 levels. If the above is correct, potential trend has now turned lower towards 1000 mark.

Furthermore, Minute Waves ((i)) and ((ii)) seem to be complete around 1130 and 1290 levels respectively. If the above holds, Minute Wave ((iii)) is now progressing against 1290 high.

AxisBank (4H Chart) Elliott Wave technical analysis

Function: Counter Trend (Minor degree, Grey. Wave A unfolding).

Mode: Corrective.

Structure: Potential Impulse.

Position: Minute Wave ((ii)) Navy of 1/A complete.

Details: Minute Wave ((iii)) Navy is now underway towards 1000 at least, against 1290.

Invalidation point: 1290, risk tightened.

AXISBANK 4H Chart Technical Analysis and potential Elliott Wave Counts.

AXISBANK 4H chart highlights the sub waves after Minor Wave 3 terminated around 1154 high in December 2023. Minor Wave 4 was a combination, followed by an impulse Wave 5 towards 1340 mark. The stock seems to have turned lower since then and is unfolding an impulse at Minute Degree against 1290 high.

Conclusion

AXISBANK is progressing within Minute Wave ((iii)) against 1290 high.

Elliott Wave Analyst: Harsh Japee

AxisBank Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD flatlines below 1.1800 ahead of Fed Minutes

EUR/USD struggles to find direction and continues to move sideways below 1.1800 for the second consecutive day on Tuesday as markets remain in holiday mood. Later in the American session, the Federal Reserve will publish the minutes of the December policy meeting.

GBP/USD retreats to 1.3500 area following earlier climb

GBP/USD loses its traction and trades flat on the day near 1.3500 after rising to the 1.3530 area early Tuesday. Trading conditions remain thin ahead of the New Year holiday, limiting the pair's volatility. The Fed will publish December meeting minutes in the late American session.

Gold aims to regain the ground lost

Gold gathers recovery momentum and advances toward $4,400 on Tuesday after losing more than 4% on Monday. Increased margin requirements on gold and silver futures by the Chicago Mercantile Exchange Group, one of the world’s largest trading floors for commodities, prompted widespread profit-taking and portfolio rebalancing.

Tron steadies as Justin Sun invests $18 million in Tron Inc.

Tron (TRX) trades above $0.2800 at press time on Monday, hovering below the 50-day Exponential Moving Average (EMA) at $0.2859.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is. Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).