EXIDE INDS Share Tips, Technical Analysis Chart, Intraday Stock Trading Graph Advice - Stock moving in a up channel formation, stock to favor bulls, further strength expecting once stock closes above 170. (Updated on 21st August 2014, Thursday).

EXIDE INDS

• As per previous report published on EXIDE INDS stock touched its resistance @ 151, after breaking 145. (Click here to see previous report published on EXIDE INDS).
• Now daily chart indicates stock is moving in a up channel formation this indicates as long as stock moves in its channel formation it will be favored by bulls, chart also indicates stock will find strong trend line resistance around 170, once Exide closes and stays above 170 then stock will favor bulls for next few trading days.
• Intraday close watch once stock starts trading above 170, if holds above in intraday then bulls action is expecting.
• Suggested Reading - JSW HOLDINGS moving in a range bound zone , sharp move expecting once stock comes out from its range.
• As per graph no 2 stock is moving up from 50 days moving average as long as stock holds above bulls will be favored once stock closes below 50DMA then Exide will show first sign of weakness.
• If stock moves up from current levels and closes and stays above 170 then will find next strong resistance around 178 its 161.8% fibonacci retracement, as shown in graph no3.
• By looking at weekly chart in graph no 4 it indicates that stock is currently facing strong trend line and fibonacci retracement resistance once closes above 170 in weekly chart then stock will favor short-long term traders. Close Watch.
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