STOCK : EXIDE INDUSTRIES
CMP : 217.70 (20/06/2022)
ABOUT : Exide Industries is an Indian company that specializes in the production and sale of automotive and industrial batteries. It is one of the largest battery manufacturers in India and has a significant presence in both the domestic and international markets.
TECHNICAL ANALYSIS CHART VIEW ( WEEKLY TIME FRAME )
(CLICK ON ABOVE IMAGE FOR CLEAR CHART VIEW)
OBSERVATION :
The above chart shows a ROUNDING BOTTOM pattern on a weekly time frame ready for breakout, once the stock gets breakout above 220 levels we may expect (15-20%) returns comings days. good to hold for swing trade & short term.
BUY IF WEEKLY CANDLE CLOSES ABOVE 220
How does ROUNDING BOTTOM pattern works ? (CLICK HERE)
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Note : It's important to note that the is just one of many chart patterns used in technical analysis, and traders should always use multiple indicators and techniques to confirm their analysis before making trading decisions
Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation to buy or sell. Please consult your financial advisor before taking any financial decision.
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