Axis Bank’s latest rally has pushed the stock to ₹1,245, marking a 16% gain since the start of October. Hitesh Rathi, Technical Analyst at Angel One, points to the formation of an Anchor Column at 1% Point & Figure charts as evidence of a solid support base around ₹1,180. The stock is now in a consolidation phase but still shows a medium‑term bullish bias, with a target range of ₹1,350‑₹1,360 and a stop‑loss set at ₹1,158.
Authum Investment & Infrastructure Ltd (AIIL) sits near ₹545, after a gradual climb that has established a higher‑high, higher‑low pattern. Rathi highlights a bullish anchor column that has held firm in the ₹510‑₹500 band, indicating strong buyer control. The company’s strong relative strength in a broadly selling market, coupled with a break above its previous bearish anchor column, gives traders a risk‑adjusted entry point with a target of ₹620‑₹630 and a stop at ₹500.
Dixon, on the other hand, is flagged as a sell. The stock is trading between ₹12,650 and ₹12,660 and has recently slipped below key exponential moving averages. The crossover of the 20‑EMA below the 50‑EMA confirms a short‑term bearish shift. Rathi sets a stop‑loss at ₹13,040 and a target of ₹12,000‑₹12,015, citing a follow‑through double‑bottom pattern on the 0.25% Point & Figure chart as evidence of a potential reversal.
Across the sector, the broader market is experiencing a pullback, but Axis Bank’s consolidation and AIIL’s relative strength suggest that traders should remain cautious yet opportunistic. Dixon’s bearish signals indicate a potential trend reversal, offering a possible early entry for contrarian shorts. Market watchers should track the upcoming earnings window and watch the EMA crossovers that could confirm the directional bias for each stock.