EXIDEIND - AT RESISTANCE (MAY BREAK)An ascending triangle is a clear cut indication of consolidation followed by a breakout. A BIG BREAKOUT...........
Note:
Avoid the stock if a big gap up or gap down is seen
Enter after the breakout happens and not before it
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Only enter with strict stop-loss and target
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Exide Bottoming out - Buy above 504. SL -458Exide Industrie s, a leading manufacturer of storage batteries in India, has made significant investments in its wholly-owned subsidiary, Exide Energy Solutions Limited (EESL). These investments are strategic moves to capitalize on the growing electric vehicle (EV) market and position Exide as a key player in the country's transition towards cleaner energy.
The stock has given RSI Breakout and one can consider entering above 504 for targets of 580/675/750, with strict stop loss of 458
Key Points:
Investment in EESL: Exide has invested a substantial amount in EESL, which is focused on manufacturing lithium-ion battery cells, modules, and packs. This investment aligns with Exide's commitment to the EV ecosystem and demonstrates its confidence in the future of electric mobility.
Greenfield Project: EESL is currently setting up a greenfield plant in Bengaluru to manufacture and sell lithium-ion batteries. This facility will play a crucial role in meeting the increasing demand for advanced batteries in the Indian market.
Growth Opportunities: The investment in EESL presents significant growth opportunities for Exide. As the EV market expands in India, there will be a rising demand for high-quality batteries. Exide's strategic positioning in the lithium-ion battery segment can drive substantial revenue growth and strengthen its market position.
Synergies with Existing Business: Exide's investment in EESL can also create synergies with its existing business. The company's expertise in traditional lead-acid batteries can be leveraged to develop innovative hybrid and electric vehicle battery solutions.
Government Support: The Indian government has been actively promoting the adoption of electric vehicles. This favorable policy environment provides a conducive environment for Exide's growth and expansion in the EV battery market.
Exide Industries 4Hrs Chart only for educational purpose
NSE:EXIDEIND
Exide Industries Ltd. taking strong support and expecting reversal after long consolidation in stocks.
Downtrend: Now we have strong supports in Exide Indu, between 171 to 170 / Next Strong Support 160 to 150
Upwards: We have Three more strong resistance 180 /186 /195
My Targets (do not take any trade by my analyses)
• 1st Target 175
• 2nd Target 180
• 3rd Target 185
• 4th Target 190
• 5th Final Target 195
I have also provided some Support and resistance area above chart you can see.
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Will Exide industries break the resistance this time?Exide industries has not really decisively broken this resitance on previous attempt. Could this be the time it breaks the resistance. Go long if the resistance is broken either by 1.5-2% on daily close or there is a confirmation candle in the next session.
NSE:EXIDEIND
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EXIDE: BREAKOUT + ELLIOTT WAVES ANALYSIS In the above chart, I have indicated a Breakout from a rectangular consolidation and simultaneously Eliottt Waves action in order to showcase the importance of both in Technical Analysis.
After few weeks of consolidation in rectangle formation, the price action broke out from the rectangle on Wednesday indicated strong buying pressure and thereon the price action remained and managed to close above 184 resistance level for three continuous day. Buyers look excited and shall move prices up.
As per Elliott Waves , there is completion of Regular Flat corrections (ABC) and now the price action is in a Wave 3 of impulsive move.
Target 1: 192
Stoploss 179
Exide - ABCD Pattern - Long IdeaLong Idea - Target 198.
Setup - ABCD pattern
Entry - 185-186
Stop - 169.5
Price Target - 198 range
This is not a high momentum stock and is investment grade.
Even if the stoploss is hit and prices crash, the stock is a great buy around 120 levels.
Disclaimer: Please trade and invest at your own risk.
EXIDE WAITING TO EXITE US :)TRIANGLE BREAKOUTS. explained well in charts. I will daily post intraday/swing/positional trading opportunities so u can analyse and get the most from it. if you like my analysis do like and follow me as a token of appreciation.and if you have any queries let me know. bye
Exide looking good above 174.25 levelsStricly 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)
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