EXIDEIND trade ideas
Exide Ind : Parallel Channel Breakout#Exideind #channelbreakout #breakout
Exide Industries : Swing Trade / Short Term Trade (1-3 Months)
>> Parallel Channel Breakout
>> Good Trending setup
>> Good Volumes & Strength in stock
>> Low Risk High Reward Trade
>> Potential Upside of 10% or more
Swing Traders can lock 10% profit & keep trailing
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Disclaimer : This is not a Trade Recommendations & Charts/Stocks Mentioned are for Learning/Educational Purpose. Do your Own Analysis before Taking positions.
Now the Battery is fully chargedA Weekly Bullish Flag and Pole pattern is visible on the charts of NSE:EXIDEIND
Flag and Pole pattern is a bullish continuation pattern and it is visible in charts after a meaningful appreciation in the NSE:EXIDEIND
MACD gave Positive crossover on Daily chart and Monthly chart and weekly chart, it is moving towards the positive territory. So, expecting the momentum to continue.
One can look to create a fresh position in the scrip near Rs. 261-268 levels with the stoploss of Rs. 240.90 on weekly closing basis. The 1st target will be 285.10 , 2nd target will be 300.10, 3rd target will be 316.20, 4th target will be 335.65 and fifth target will be 348.55.
This study is for educational purpose only.
EXIDE SHORT TRADEIt is clearly noticeable that Exide Ltd. has changed character from bullish to Bearish and the order flow of this stock is also now bearish.
The price has retraced back to 70-80% Discount area as ascertained from Fibonacci tool and coupled with a strong order block which initiated the previous downfall leaving behind a huge impulse, it gives us further confirmation for the short side bias.
Price has approached the order block and is facing resistance also from the trendline above (marked in yellow).
I will take the leg of the previous downfall and ascertain my next target as shown in the figure.
Exide Bearish Order flowAs we can notice clearly that Exide Ltd. has changed character from bullish to Bearish.
The order flow of this stock is now bearish.
The price has retraced back to 70-80% Discount area as ascertained from Fibonacci tool and coupled with a strong order block which initiated the previous downfall leaving behind a huge impulse, it gives us further confirmation for the short side bias. Price has approached the order block and is facing resistance also from the trendline above (marked in yellow).
I will take the leg of the previous downfall and ascertain my next target as shown in the figure.
📈 Exciting Bullish Pattern Alert! 🐂📈 Exciting Bullish Pattern Alert! 🐂
📊 Pattern: Broadning Pattern
📌 Symbol/Asset: EXIDEIND
🔍 Description: Stock is forming broadning pattern and around 255 there are multiple supports are coming.
👉 Disclosure: We are not SEBI registered analysts, this is not a buy or sell recommendation. Technical patterns are just one piece of the puzzle. Consider conducting further research, consulting with a financial advisor, and managing your risks appropriately.
EXIDE IND 1HRINTRADAY / SWING TRADE
EXIDE IND Looking good for upside..
When it break level 272and sustain.. it will go upside...
BUY@ 272
Target
1st 276
2nd 279
MPHASIS SEP FUT – 6 LOT (Qty-21600)
MINIMUM 10L CAPITAL
Enjoy trading traders.. Keep add this STOCK in your watch list..
Investor are welcome..
TRADERS HOLD SWING TRADE FOR LONG TARGET
Exide Industries Ltd - Long Setup, Move is ON...#EXIDEIND trading above Resistance of 235
Next Resistance is at 266
Support is at 193
Here is previous chart:
Chart is self explanatory. Entry, Resistances and Support are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
EXIDEIND - Long Setup, Move is ON..NSE:EXIDEIND
✅ #EXIDEIND trading above Resistance of 261
✅ Next Resistance is at 304
Related charts:
Charts are self-explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
CONCEPT OF TWIN TRENDLINES - A BULLISH CASE CONCEPT OF TWIN TRENDLINE
Long term wealth is generated through capture of trending move in a stock. The skill is in reading the chart and determining whether the trend has commenced. There are several means which are widely used to find the trend:-
-Oscillators
-EMA and its slope.
-Darvas box
-HH & HL market structure
-Formation of pivots
-Elliot Wave
All above methods are effective and can be used to take trade. However, to effectively time the trade I have put forth this concept of twin trendline. This is not a holy grail and several variations of this concept can be seen on the charts. The cardinal rule for following twin trendline concept is that the price shouldn’t have broken the previous swing low on weekly charts for a bullish long.
At times price breaks the box only to fall back in the box. It is not necessarily a false breakout but price needs more time to complete accumulation thereby preparing for next move. Twin trendline works best in such cases. This concept with its variations is applicable on all timeframes and on all asset classes. The twin trendline works most of the time but sometimes when the correction is deep even triple trendlines can be seen.
The price before trend reversal goes through motions of divergence, basing, retracement and time corrections. The stock alternates between time and price corrections within the box. After an extended price correction or retracement the price moves along the trendline thereafter to give a breakout from the first trendline to form a false higher high structure and later only to continue the trend along second trendline. (See above example)
The example of exide industries chart classically depicts the twin trendline concept. Reflex point (WILL ELABORATE SEPARATELY AGAIN) is penultimate point on the first/second trendline which needs to broken for establishment of trend. When price is consolidating a reflex point can be seen along second trendline. This point then forms a crucial pivot to understand the turn around in the price structure. In instant case of Exide industries 215 is the crucial resistance level(False HH) which needs to broken and sustained till the price reaches the mean of pitchfork ie around 240 levels. This will definitively give a HH structure for the stock.
Confluence of factors – Box being broken which should be with momentum and on volumes, reflex point on second trendline being broken, the price touches the mean of pitchfork, formation of HH structure.(One needs to monitor the period of time for all these happenings).
Time to take trade. It is felt after this price correction there may be a time correction wherein price may fall back to the box. A doji/hammer followed by a weekly green candle would be a time to take trade for capturing long term move or big move.
RSI. On both monthly and weekly charts is pointing northwards which is sure sign that stock should catch momentum. It is found that low priced stocks take time to catch momentum burst which happens only intermittently.
The angle of twin trendlines also matter to understand the geometry of vibration as to whether the stock is trending. Acute the angle longer it will take to catch momentum, obtuse the angle faster will be the move. The time spent in the box is also a measure for trend qualification. Sometimes extended time correction in the box is owing to bad results, overall directionless market, sector rotation or some bad news. When stock is in momentum the price at times crosses the reflex point on first trendline only to continue the trend.
Summary - Watch market structure of twin trendlines, wait for price to cross reflex point on second trendline, price should form HH structure, validate it through pitchfork, wait for retracement back to box, wait for candle sticks pattern of a doji and momentum candle on weekly chart to take trade.
Views Welcome
Regards
Disclaimer : This post is for educational purposes only
Exide: Buy opportunity | Short Term | 01-08-2023Please Refer the Chart of Entry, Target and SL.
Please do follow Position Sizing and Risk Reward Ratio while planning any trades.
Note: This information is for education purpose only and please do your own research and consult your financial advisor prior to taking any action.
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