Keep Rs 397-50 stoploss in Axis Bank: Mohoni
April 8th, 2009
Technical Analyst, Deepak Mohoni is of the view that one can keep Rs 397.50 stoploss in Axis Bank.
Mohoni told CNBC-TV18, “In Axis Bank one should probably have a tighter stoploss, today’s low would be a good stoploss and that is about Rs 397.50. Should the stock stay above it and the market go up then he/she will be back in the black but otherwise if there is a reversal and the persistent decline, then he/she will need to protect his/her capital to whatever extent one can. So Rs 397.50 as a stoploss, which can be raised slowly as the stock shows more ups and downs on a rally.”