Exide industries is following the trendline since 26-12-2016. In previous instances it has rebounded after touching except on 3-5-2017. However, the next day it was back above trendline accompanied with huge volume. Today it has touched the trendline again. I feel this is a buying opportunity with a stop loss of 223.
The price is exactly on point of support Zone , I am looking to buy on CMP 222.30 for Target of 230.60 With Stop 219.50
The one who understand this can make money ,
CMP 222.30
Target-230.60
Stop-219.50
Risk-3.80
Reward-8.30
Regards
stock is in uptrend
in the last few trading sessions corrected
from recent high
stock might resume it's uptrend above 230/231 levels
if trade triggers one can have sl placed around 227 levels
and look for targets around 232/236/242
I could see Using Febnachi Level the stock is heading Towards the Feb Level 50 % (221.90) and may be it will make up to 61.80% (219.52) so today will be interesting price action , the Current price is exactly at 38.2% of Feb level ,
Normally it is understood that if the Stock is having Strong upward momentum it will not retrace more than 38.20% of Feb level , ...
Exide Industries: ₹227 is in primary wave extension, will have a minimum target ₹335.
And it can go up to 162% of the gross price from wave to wave .
Its 100% to wave is almost achieved. Meanwhile small corrections are expected.
There are some unwanted challenges & interactions , and I requested the forum to take note of the issue to have some control...
Its a Good tool provided here , basically those who do not understand where the market is heading this tool can become a flash light in your trading life
You can use this tool to identify the trend and the impulsive movement of the stock when applied to day candles, or any time frame
Standered use is 5,10 period i hope that will serve you to put support and...
You can see the Choppy Zone indicator will work fantastically when used for Day candle chart to avoid choppy area , You can do two major identifications with this
01) Choppy Zone are created by Smart Money because they will be accumulating the stocks ,so you can come to know once you reach choppy zone and indicator will show you its choppy
02) Check the volume...
Most of the people forget about the volume because it is not thought important but here i am providing an important clues about the Volume oscillators
What volume oscillators will do is they read specific period peak high and lows and will also give visual representation of co relation between price and volume , You can observe that the Price is increasing but...
![EXIDEIND: Exide Industries: ₹227 in primary wave [5] extension,target₹335](https://s3.tradingview.com/4/4iIpwagx_mid.png "Exide Industries: ₹227 in primary wave [5] extension,target₹335")
