EXIDE INDUSTRIES LTD.

BSE

EXIDEIND

Shorting 300 CE at 3.6

Price above cloud. Break of triangle leads to upside movement.

CMP: 204 TGT: 213, 223, 239, 247 SL: 196 Nice price action, bouncing from support areas. Seems bottomed out on daily and weekly charts. Can go long as decending triangle breakout coming soon. Disclaimer: I am a novice at charting and this chart is for educational purposes only. Views and opinions are welcome.

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...

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...