And one more handmade perfect chart,
The key levels are 175, if this sustains above 175, we can see 182 and 190 coming in few days and in short term may even show a good upmove, if playing for it then trail your stop losses...
#EXIDEIND form the Head&Shoulder reversal pattern on 15 min chart. Level 160 is very strong resistance. If level 157.90 will break then stock can see pullback on level 156.65 and if face resistance from 157.90 then bottom target will be 153 while support on 152.35
Support : 156.65 and 153
Team, I have given call in my Telegram channal today about EXIDE INDUSTRY I AM seeing Exide is strong can go upto 170 Levels and risk of 6K hardly we can take Hero or Zero of EXIDEIND 170 CE for JULY SERIES at 1.6, Stop Loss 0
BUY AT SAID LVL
BLACK DOTED LINE ACT AS SUPPORT AND RESISTANCE
ZOOM OUT ON CHART TO SEE THAT IT IS TRAVELLING IN A RANGE
PURPLE LVL WE CAN START BUYING A BIT QTY & ADD AS SAID LVL
IF GROSSED GREEN LVL & SUSTAIN
THE NEXT TARGT IS PURPLE LVL.
Exide looks like it completed a running flat - a sideways move, after the initial upmove. I expect an upmove next, in the same direction of the first move. I see a low risk , high reward setup here. The initial upside target could be the "b" point of the flat and there is a good chance it can continue moving up after the initial target. Its a classic continuation...
Exide india has rebounced back from its 20 DEMA and is currently taking support at its previous resistance. The stock has fallen on account of its results. It is best time to accumulate for 5 to 10% upside, possibly within this week.
Exide Industries Ltd. engages in the manufacture of storage batteries. It operates through the Storage Batteries and Allied Products segment. The company was founded in 1946 and is headquartered in Kolkata, India.