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Published on 11/07/2019 4:28:33 PM | Source: Choice Broking Pvt Ltd

Buy Exide Industries Limited For Target Rs. 215 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Exide Industries Ltd #Auto Ancillaries Sector #Trading Report #Choice Broking

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* On an hourly scale, the stock has given a breakout of its range bound movement which shows further upside movement can be seen in the counter.

* Additionally, the stock is sustaining above its 100 Hourly Exponential Moving Average which shows a positive move in the counter.

* On a daily scale, the stock has reversed back after taking a support of its previous support level which suggests bullishness in the counter.

* A daily momentum indicator RSI reading is at 48.16 level with a positive crossover which points out for a positive breath in the stock.

* Based on the above technical structure, we are expecting an upside movement in the counter in few trading sessions

 

Recommendation

Buy Exide Industries Limited @ 203.50 Stoploss 197.00 Target Price 215.00

 

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