📈 Exide Industries – Ready for Breakout After Long Accumulation
Chart Pattern:
Stock has been consolidating in an accumulation phase after forming a Bullish Order Block around ₹320–340.
A cup-shaped structure has developed with higher lows, indicating strong demand absorption.
Price has now broken out above the falling trendline resistance and is trading around ₹412.
Key Levels to Watch:
Immediate Support: ₹387–400 zone (previous resistance, now support).
Resistance 1: ₹455–465
Resistance 2: ₹515–525
Resistance 3 / Target Zone: ₹575–585
All-Time High: ₹620+
Trade Setup Idea:
✅ Entry Zone: ₹400–415 (on dips or sustaining above breakout).
🎯 Targets:
₹460 (Resistance 1)
₹520 (Resistance 2)
₹580 (Resistance 3)
🛡️ Stop Loss: Below ₹385 (closing basis).
Technical Confluence:
Breakout from multi-month trendline.
Strong accumulation visible in volumes.
Cup & handle–like formation suggesting momentum build-up.
⚡ View: Medium-term bullish. A breakout above ₹460 can open the gates for higher targets up to ₹580–600.
Chart Pattern:
Stock has been consolidating in an accumulation phase after forming a Bullish Order Block around ₹320–340.
A cup-shaped structure has developed with higher lows, indicating strong demand absorption.
Price has now broken out above the falling trendline resistance and is trading around ₹412.
Key Levels to Watch:
Immediate Support: ₹387–400 zone (previous resistance, now support).
Resistance 1: ₹455–465
Resistance 2: ₹515–525
Resistance 3 / Target Zone: ₹575–585
All-Time High: ₹620+
Trade Setup Idea:
✅ Entry Zone: ₹400–415 (on dips or sustaining above breakout).
🎯 Targets:
₹460 (Resistance 1)
₹520 (Resistance 2)
₹580 (Resistance 3)
🛡️ Stop Loss: Below ₹385 (closing basis).
Technical Confluence:
Breakout from multi-month trendline.
Strong accumulation visible in volumes.
Cup & handle–like formation suggesting momentum build-up.
⚡ View: Medium-term bullish. A breakout above ₹460 can open the gates for higher targets up to ₹580–600.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.