Axis Long Term Equity Fund

Axis Long Term Equity Fund –Growth is an open ended Equity Linked Saving Scheme [ELSS] which has a lock in period for 3 years. This scheme is ranked 2 in ELSS category by CRISIL.

axis chart


Taxation: This fund aims for “SHARE LESS SAVE MORE”. This fund helps the investors to get tax rebates under section 80 C of Income Tax Act.

Portfolio Analysis: The major holdings of this fund are into Banking and Automotive sectors. Below is the table shown of Top Holding & Sectorial allocation of this fund:

top axis holding

Risk: This fund has concentrated exposure to sectors especially Banking/Finance and so the risk is diversified. It is better to eye for long term investment in this fund. Fresh investments should be done in form of SIP only with time horizon of three years or more.

Technical Perspective: As shown in the above daily chart, post the completion of wave 2 near 30 levels prices exhibited a sharp move on upside in the form of wave 3 and currently intermediate wave 4 is ongoing. On downside as long as the blue channel is intact trend will be positive while some sideways move cannot be ruled out. Important support is placed near 39 levels and completion of wave 4 will begin wave 5 on the upside.

Investment rationale: Axis Long Term Equity ELSS scheme can move higher over medium term. One should continue to do investments through SIP to generate the greater wealth along with tax saving.

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