Exide Holds The Power To Fetch Quick Returns In The Short Term


Strategic Technical Analysis. Since this is a breakout position for buyers backed by a bullish flag pattern in a hourly chart, the target for the stock will be around 242 and a stop of 223 must be strictly maintained. Professional Trading is about sticking to ones discipline and maintaining a healthy risk reward ratio. Exide Industries hourly chart qualifies all the above criteria and is certainly a trade out of the conventional technical analysis text books.

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Exide Industries hourly chart has formed a bullish flag pattern which is an indicator of a strong buy trend in the short term. The hourly chart resembles a flag on a pole, due to a vertical rise in its price after a period of consolidation. Exide Industries share price is clearly indicating that the buyer is in control and has the power to move more on the upside once it gives a breakout of 230.

Exide Industries Certainly looks for a promising buy around the 230 mark as per Strategic Technical Analysis. Since this is a breakout position for buyers backed by a bullish flag pattern in a hourly chart, the target for the stock will be around 242 and a stop of 223 must be strictly maintained. Professional Trading is about sticking to ones discipline and maintaining a healthy risk reward ratio. Exide Industries hourly chart qualifies all the above criteria and is certainly a trade out of the conventional technical analysis text books.

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