Exide- Positive trendlineIdea: Once can buy Exide once 164 is broken on the upside for targets of 184-185 and stop loss of 155.
Entry: 164-165
Target: 184-185
SL: 155
Basis: Rising trend line and assuming upcoming supply area gets broken then it can propel the stock higher.
Thanks
(Above views are for educational purpose only. Pl consult your financial advisor before investing)
Exide
#ExideIndustries Positional Levels NSE:EXIDEIND
📌We will wait for our level, if reverse before level then we will try to enter on breakout coz we might miss reversal in that.
📌 To Trade on This Chart, You Should Have Reversal Trading Knowledge. As Harmonic is One Of The Best Reversal Trading Strategy, But Always Remember That Harmonic Patterns Also Can Fail (there is no holly grail In Stock Market). That's Why One Should Must Have Knowledge Of Reversal Trading To Trade On Harmonic Patterns.
📌 That Dash Line Is Called PRZ, From That Dash Line To that Horizontal Simple Line Area Is Whole PRZ(Price Reversal Zone).
📌 As One can see, This Pattern has Been Made on Bigger Time Frame, that's why stop loss quite big as per this pattern and time frame. So wait for perfect reversal first then only go for long and ones enter in trade then strictly follow stop loss and here as per my own experience one should keep Stop Loss as closing basis.
(PRZ :- Potential Reversal Zone, SL :- Stop Loss, TF :- Time Frame)
PRZ 1 :- 136.80
PRZ 2 :- 135.50
SL :- 124.70 (Closing Basis)
Target 1:- 144
Target 2:- 152
Target 3:- 160 and more Trailing basis
Note:- As Per this harmonic pattern , stop loss is quite big, so Trade on reversal only if you don’t know what is reversal, Kindly note that and ask in live session so next time you could be able to identify reversal by your self. Even ask doubts in comments, below.
******whatever charts or levels sharing here or on any other platforms are just for educational purpose only, Not A Recommendation To Buy Or Sell. Please do your own analysis before taking any trade on them. We are not SEBI registered.
ExideIND long short termI hope you can now see how ExideIND represents an excellent low risk profit entry setup allowing you to trade in the market. Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that the methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Examples presented in these charts are for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.
Exide Industries - Bullish HarmonicExplanation
A - 211.5
B - 170.55
C - 199
D - ???
AB = CD
211.5-170.55 = 40.95
199-40.95 = 158.05 Our 1st Price Reversal Zone (PRZ)
158.75 which is our 2nd Price Reversal Zone is 1.41 fibo level of B To C.
SL is below 1.618 fibo level of B To C.
Target calculated by C To D fibo levels.
Simple Trade Setup | EXIDE IND| 04-08-2021NSE:EXIDEIND
This stock is weak now. But today it entered in the critical zone which was working as a resistance as well as support from long time.
Also on daily time frame it closed below 400DMA which is act as good support for any stock.
Better to avoid trading in this stock and wait for firm break of either side of level.
Levels are marked on the charts.
Do comment your doubt or suggestion.
My personal view is to avoid trading in this stock.