Buy Axis Bank, target price Rs 420: Jayesh Bhanushali

Jayesh Bhanushali of IIFL has a buy call on Axis Bank Ltd. with a target price of Rs 420.0 . The current price of Axis Bank Ltd. is Rs 388.35 Time period given by the analyst is Intra Day when Axis Bank Ltd. price can reach defined target. . Jayesh Bhanushali recommended to keep a stoploss at Rs 369 .

Axis Bank Ltd., incorporated in 1993,has a market cap of Rs 109590.01 crore.

Investment Rationale


The stock has formed a bullish hammer candlestick pattern on the daily chart.

Promoter/FII Holdings

Promoters held 16 per cent stake in the company as of March 31, 2020, while FIIs held 45.49 per cent, DIIs 24.94 per cent and public and others 13.56 per cent.