EXIDE INDS
- As per previous report published on EXIDE INDS, stock failed to closed above its trend line resitance @ 170, but after breaking its resistance gave intraday Rs.2 up move and made a high around 172 and then closed below. (Click here to see previous report published on EXIDE INDS).
- Now current charts indicates that stock is still moving in a up channel formation, will favor bulls as long as it moves in its channel formation, bears will have a grip once it comes out from up pattern. On upper side Exide will be facing trend line resistance around 172, once Exide closes and holds above 172 then bull will take it further up for next few trading days.
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- Intraday share to buy - close watch once stock starts trading above 172 during market hours , if holds above 172 then intraday bulls action is expecting.
- As per technical stock analysis, graph no2, 50 days moving averge is playing a imp. role in Exide Inds, as long as stock holds above 50 DMA it will be favored by bulls, But when stock closes below 50 DMA then will give first sign of weakness. On upper side watch out for resistance @ 172.
- According to Graph no3, if stock moves up from current levels and closes and holds above 172 then bulls will be active and they will find next strong resistance @ 181 its 161.8% fibonacci retracement.
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- As per weekly chart shown in image 4, last week Exide has formed doji, usually it indicates change of trend and sharp move. Close Watch @ 172, if breaks it nearest resistance we can see some action.
- Click here to see all the free trading reports (tips) published by us on EXIDE INDS.
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