Mr.Manish,
You are almost there, just connect the ground of the 24V power supply to ISO Common of Axis4. Also please let me know about the MAX settings that you have configured. Are you using the home input as active high or low. What abt. the settings in the Find Reference Tab in MAX, initial search direction, final approach direction and edge to stop on?
Regards,
Giridhar Rajan
Automation Engineer, Design
Cruiser Controls
Mumbai, India