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Published on 14/01/2020 12:27:13 PM | Source: HDFC Securities Ltd

Momentum Pick Of Exide Industries Ltd For Target Rs. 198  - HDFC Securities

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

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Momentum Pick Of Exide Industries Ltd For Target Rs.198 - HDFC Securities

* After showing a minor declines/sideways consolidation, the option price has shifted into an upside bounce today.

* Currently, the price is making an attempt to show upside move above the key upper resistance.

* The short term trend has turned positive.

* We observe a formation of positive candlestick pattern as per daily timeframe chart.

* Volume has started to rise along with the up move in the stock price.

* The daily RSI is showing positive indication.

* Monthly RSI is hovering near 40 level, indicates support at current level.

Recommendation

Buy Exide Industries Ltd  SL 178.60​​​​​​​ Target 198 CMP 187

 

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