exide ind at support, reversal expected. Long

NSE:EXIDEIND1W

EXIDE INDUSTRIESNSE

Description

⋅ Sep 2, 2017 12:44 PM

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

⋅ Sep 12, 2017 12:52 PM

exide moving up as expected, closed at 226.05.

Trade active

⋅ Sep 12, 2017 12:53 PM

BB is expanding in daily and candles are riding the upper BB

Trade active

⋅ Sep 18, 2017 3:23 AM

descending channel breakout in daily with good volume, now it is trying to retest the breakout level.

Trade active

⋅ Dec 16, 2017 5:52 AM

price still consolidating at the support zone.

Trade active

⋅ Dec 22, 2017 12:48 PM

after a long consolidation, exide ind showing strength, BB is expanding and candles are riding the upper BB,

Comment

⋅ Dec 22, 2017 12:49 PM

1st tgt of 220 achieved here

Trade active

⋅ Aug 7, 2018 5:18 AM

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 -

Comments

turtlemove

⋅ Dec 23, 2017 3:39 AM

great !

Madhavrox

⋅ Dec 22, 2017 12:53 PM

Is it 1 day chart?

ParamjitMahapatro

⋅ Dec 22, 2017 1:08 PM

@Madhavrox, price showing strength in daily timeframe, and horizontal support zone shown in weekly time frame.

vikranth.kottur

⋅ Sep 3, 2017 8:19 AM

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

⋅ Sep 3, 2017 10:24 AM

@vikranth.kottur, thanks for sharing your strategy here, I agree on this.