NeeteshJain
Long

Exide Looks Excited with Positive Breakout from Consolidation

BSE:EXIDEIND   EXIDE INDUSTRIES LTD.
After few weeks of consolidation in rectangle formation, the price action broke out from the rectangle on Wednesday indicated strong buying pressure and thereon the price action remained and managed to close above 184 resistance level for three continuous day. Buyers look excited and shall move prices up.

As per Elliott Waves , there is completion of Regular Flat corrections (ABC) and now the price action is in a Wave 3 of impulsive move.

Target 1: 192
Stoploss 179
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entire auto sector is looking at all time new highs. battery manufacturers have been under performing considerably.
Great find of an early trend in an otherwise boring stock.
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