ExideIndBuy at 271. Target 285+. SL 268. Breakout stock in strong uptrend, consolidation seems to be over.
EXIDEIND trade ideas
Exide Industries - Bullish cup breakout patternExide Industries
CMP 261
Target 310 plus
Stop 240
Weekly chart
1) Cup pattern breakout with good volumes.
2) RS upward sloping and above MAs.
Exide Industries - Long Term View Wave Analysis : Long Term View : Exide Industries : 4th Wave : C Wave
Looking at chart looks like price in 4th wave completed b wave and c wave is going on which can be expected till 180-190 area.
After completing wave c we can last rise in the price around 324 - 350 max which very extended 5th waves and then sharp decline can been seen in the price in the future wiping out 50% of the price movement.
So, if top is 324/300 we can expect decline till 162/150.
There is no idea of time line so please ignore timing of the market, just trying to fit wave patterns in the current market movement.
Note: No trading recommendation for this analysis, just trying to figure out whats going on :)
Exide Looks Excited with Positive Breakout from ConsolidationAfter 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
EXIDE'S BATTERY SEEMS WEAK (SELL)Double Top with bearish divergence indicates a strong weakness in this and I believe shorting it at current levels will be a wise thing to do.
Handsome Risk Reward.
EXIDE : Simple Pullback Long EntryNote : Market opened down, so your risk will be decreasing. Look for better risk-reward ratio and enter the trade
Market is continously in bullish trend
We are entering in pullback
RSI in oversold region
