We can expect good quarter and demand rise and company has high capex and negative working capital but we can enter for short term and take benefit of few points
Fundamentally company is good.
On Technical Ground
Buy at 195
Targets 210 , 220, 230
SL 170
It is just for education purpose ....
Your suggestion are welcome and please feed back ....
If you are doing fundamental studies then you can easily identify the reason for picking Exide Industries. Nowadays Indian government is focusing on Electric Vehicle and encouraging people. We are expecting good future for electric vehicles and battery producing companies.
Technical Overview of EXIDEIND: As we can see on the chart, stock has given Break Down to...
Some bullishness being seen after prolonged bearish move. The stock may turn bullish due to sudden spurt above descending resistance line or if it can close above 201.50 by 10th October.
NSE:EXIDEIND Broken below the neckline support of 200. The stock is trending lower for the last 5 weeks and a bounce back cannot be ruled out since it's in an oversold position. However, one should keep in mind that it would be difficult for the bulls to cross the level of 200 now.
Exide Industries Limited is a storage battery company. The Company designs, manufactures, markets and sells a range of lead acid storage batteries. It operates through Storage Batteries & allied products, Life Insurance Business and Others segments. Storage batteries & allied products segment includes the holding company and some of its subsidiaries manufacture lead acid storage batteries and allied products. The Life Insurance business segment is engaged in life insurance business carried by its subsidiaries. It offers a range of products, including automotive batteries, solar batteries, submarine batteries, industrial batteries, genset batteries, inverter batteries and home uninterruptible power supply systems. The Company manufactures batteries for the automotive, power, telecom, infrastructure projects, computer industries, as well as the railways, mining and defense sectors. Its manufacturing units are located in West Bengal, Haryana, Maharashtra, Tamil Nadu and Uttarakhand.
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EXIDEIND
