on the first note exide industries has broken its long term term bearish channel. stock was in 2years of bearish phase.
after breaking from its long term channel stock has made ascending triangle and now it has broken upside with good volume. this gives a confirmation that stock may rise in coming days.
my first target for short term is 205
one can hold for long...
EXIDEIND given a volume breakout above its log term resistance. Entry, SL, Target updated on chart.
These idea's are not my recommendation. Do your own analysis before making any trade based on this idea.
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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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Price after the triangle breakout nearing the supply zone and it is expected to break next week. Have your plans on it !!
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