exide ind at support, reversal expected.

in weekly, hammer formed at horizontal support

also hidden bullish divergence seen in weekly,

in daily, regular bullish divergence seen

sl - 193 tgt1 - 220, tgt2 - 250
Trade active: exide moving up as expected, closed at 226.05.
Trade active: BB is expanding in daily and candles are riding the upper BB
Trade active: descending channel breakout in daily with good volume, now it is trying to retest the breakout level.
Trade active: price still consolidating at the support zone.
Trade active: after a long consolidation, exide ind showing strength, BB is expanding and candles are riding the upper BB,
Comment: 1st tgt of 220 achieved here
Trade active: 2nd target of 250, already achieved here, cheers...

cmp - 278.80, imp resistance at 250 got broken with good volume, currently it is in strong uptrend. follow up chart -
great !
Is it 1 day chart?
@Madhavrox, price showing strength in daily timeframe, and horizontal support zone shown in weekly time frame.
Hi Paramjit !!

Nice Analysis...
You had not mentioned when should one enter or take the position in this scrip...??

My suggestion here is...
one should wait for 3 to 5 trading days/candles to get conformation of reversal trend...
Last candle must be green & shd close above 213 & next day opening should be above that (213).... increasing volume
ParamjitMahapatro vikranth.kottur
@vikranth.kottur, thanks for sharing your strategy here, I agree on this.
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