Exide industries is following a short term trend line. Indicators are positive.
Stock Reversed from the support of 177.
Bullish move can be seen in coming days.
Be cautious of the trend line break in opposite direction.
First Target will be 210.
This Exide Industries Chart is a perfect example of a Head & Shoulders pattern moving into an Inverted Head & Shoulders pattern.
In the H&S pattern, the neckline forms a crucial support level, whereas in an Inverted H&S, the Neckline forms crucial resistance.
In this particular pattern, volumes have increased during formation of the Head & Right Shoulder in...
Exide Industries has given a resistance breakout today at around 194.5- 195 levels and has successfully closed above the resistance at 196 levels. The breakout has come after 10 days of range bound price movement,hence a rally can be expected towards the next resistance point which is at 209-210 levels.
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After a brief downward movement starting from 218, there is an evident inverse head and shoulder pattern visible. Two shoulders at 180 range and head at 170 range. Potential upside is there for this stock and this can be predicted to cross 200 in the near future.
NOTE: This is only for educational purposes and do not constitute specific financial, trading or...
EXIDE INDUSTRIES is on a uptrend and then formed inverted head and shoulder.
EXIDE INDUSTRIES broke the important resistance at 192.2 and went up and retested.
EXIDE INDUSTRIES can touch 194.4 as target for intraday.
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Disclaimer :- Just an idea not any recommendation