shiv2798

Exide India On Short Term Pull back ??

NSE:EXIDEIND   EXIDE INDUSTRIES
33 0 2
I could see Using Febnachi Level the stock is heading Towards the Feb Level 50 % (221.90) and may be it will make up to 61.80% (219.52) so today will be interesting price action , the Current price is exactly at 38.2% of Feb level ,
Normally it is understood that if the Stock is having Strong upward momentum it will not retrace more than 38.20% of Feb level ,
So if the stock retrace then it will head to 221.90 and following next stop of 219.52 and then rebound if stock did not retrace beyond this level its considered as strong upward move
Cheers
Comment: It did bounce back from 224 and made super high 240 and again in pull back now
Regards
Sorry i could not update in time
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