ParamjitMahapatro
Long

exide ind at support, reversal expected.

NSE:EXIDEIND   EXIDE INDUSTRIES
in weekly, hammer formed at horizontal support

also hidden bullish divergence seen in weekly,
snapshot


in daily, regular bullish divergence seen
snapshot


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
snapshot
Trade active: descending channel breakout in daily with good volume, now it is trying to retest the breakout level.
snapshot
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,
snapshot
Comment: 1st tgt of 220 achieved here
great !
Reply
Is it 1 day chart?
Reply
@Madhavrox, price showing strength in daily timeframe, and horizontal support zone shown in weekly time frame.
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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
Reply
ParamjitMahapatro vikranth.kottur
@vikranth.kottur, thanks for sharing your strategy here, I agree on this.
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