Stricly for educational purpose and not a recomendation
Reasons: 1: trend of the stock is bullish with technical indicator support
2: direction of 200 ema
3: major trend line resistance at 174.25
4: less than 1.5 % gap btween 200 ema timef rame lines and it is converging (green lines on my chart)
do your analysis and add to your watchlist. Thank you.
If you like...
Exide made a high of 175 in previous session which is swing high as well. Looking at the momentum and volume, a breakout may come. Breaking 175-176 will bring target of 182, 193.
As indicated on the chart, the price has sharply reversed from the current levels down to the support line. I am expecting the price to do the same this time around and reverse to the lower level.
Strategy:
Observe for price action at the open and go short at the highest point.
The trade will fail if the previous high is broken, hence that will be the stop...
Date: 18 July 2020
Exide Industries (CMP 159.80)
Double Bottom and Flag pattern can be seen in the chart. Price trading well above 20 DEMA and 50 DEMA.
Target 170. If 170 is achieved then next target will revised at 180.
T1- 163, T2-166, T3-170; SL-155
PCR = 0.41; Max OI at 160 CE (12.31 Lacs), 165 CE (7.02 Lacs) and 170 CE (7.07 Lacs).
Hi,
1. Shooting Star about to Form on the Day Chart.
2. On Drawing Cypher Pattern on 30 Minutes Chart.
3. X Point to Lowest Low Price, A Point to Higher High , B Point Form to Lowest Low of Retest Level. C Point form to Higher High.
3. XB=0.542(Near to 0.5) , AC=1.285(Near to 1.28L Level). All above level Satisfy for Cypher Pattern.
4. Assuming, XD=0.786....
Exide CMP 182.05
For Short term buy level at 190 Target 194/198/203
Stop loss 187
Sell level 175.50 Target 173/170 stop loss 178
Overview: time to accumulate
TREND ANALYSIS & TRADE SETUP
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
You can Comment and ask the TREND ANALYSIS of any STOCK/SCRIPT/INDEX/FOREX.
Wait for entry setup, if available then Long/short.
R:R is 5 to 10 times.
![EXIDEIND: [Short Term]Go Long in EXIDEIND](https://s3.tradingview.com/n/nllHfuJ9_mid.png "[Short Term]Go Long in EXIDEIND")
