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Published on 9/08/2019 4:11:30 PM | Source: Choice Broking Pvt Ltd

Buy Exide Industries Ltd For Target Rs. 198 - 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, a sudden spurt in the volume has been witnessed during trading session which indicates an accentuate buying in the counter.

* On a weekly scale, the stock has bounced from its multiple support line which suggests a bounce back move in the counter.

* On a Daily chart, the stock has given a breakout of its upper band of Broadening Falling Wedge formation which is a reversal formation and signifies a bull run in the counter.

* A daily momentum indicator RSI reading is at 42.08 level with a positive crossover which points out for a positive breath in the stock.

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

Recommendation

Buy Exide Industries Ltd @185 -184  Stop Loss 177 Target 198


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