Target Price: Rs 325-330
Stop Loss: Rs 302
Stop Loss: Rs 302
Exide Industries has witnessed a strong breakout from its consolidation phase on the daily chart, accompanied by a notable surge in trading volumes. This breakout indicates a potential shift in momentum. The momentum indicator RSI has confirmed this bullish sentiment with a positive crossover, signalling a buy opportunity.
Moreover, the stock is approaching its 20-day moving average (20DMA) at 313, and a breach above this level is anticipated to further boost the momentum, indicating a potential uptrend continuation.
(Kunal Shah, Senior Technical & Derivative Analyst, LKP Securities)
