Axis Bank fell 4.39% to Rs 737 on profit booking after a recent rally.
Shares of Axis Bank jumped 7.67% in the past two trading sessions to settle at Rs 770.80 yesterday, 25 February 2021, from its close of Rs 715.85 on Monday, 23 February 2021.
On the technical front, the stock's RSI (relative strength index) stood at 53.132. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 50-day moving average (DMA) placed at 684.26 and its 200-day moving average (DMA) placed at 526.40.
The private lender's net profit tanked 36.4% to Rs 1,116.60 crore while total income fell 1.1% at Rs 19,274.39 crore in Q3 December 2020 over Q3 December 2019.
Axis Bank is the third largest private sector bank in India. As on 31 December 2020, the bank had a network of 4,586 domestic branches and extension counters situated in 2,586 centre compared to 4,415 domestic branches and extension counters situated in 2,521 centres as at end of 31 December 2019. As on 31 December 2020, the bank had 11,629 ATMs and 5,625 cash recyclers spread across the country.
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