Exide Industries, Reversal on the way - Inverted Head & Shoulder

Exide Industries is shown to be forming inverted head and shoulder pattern on a daily/weekly basis. Lately the stock can been trading with higher average volumes in the past few months.

The stock can show a good upside move in the coming days with an initial target of 220 and have the potential to go further up to levels of 300 in medium term supported by strong company fundamentals.

Comment:

Nifty looking weak ahead, neither volume support.