POSITIONAL TRADING ADVICE
SELL Exide Limited (NSE: EXIDE)
EXIDE STOCK RECOMMENDATION
| CMP# | 230.15 |
| Idea | SELL |
| Sell Range | 232 – 227 |
| Target | 216 – 209 |
| StopLoss* | 243 |
| Duration | 15 – 20 Trading Sessions |
| Potential Return^ | 6 – 9% |
| CMP# | Idea | Sell Range | Target | StopLoss* | Duration | Potential Return^ |
| 230.15 | SELL | 232 – 227 | 216 – 209 | 243 | 15 – 20 Trading Sessions | 6 – 9% |
# CMP on Jan 25, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 223.
^ The returns are calculated based on CMP#
COMPANY OVERVIEW
Having seven factories across the country and subsidiaries in the UK, Singapore and Sri Lanka, Exide is a led acid battery manufacturer with a vast product range of 2.5 Ah to 20,600 Ah capacity. Incorporated in the year 1947, they provide power storage solutions for automotive, defense, telecom, mining, railways and information technology. In 2018, Exide Industries launched three new range of automotive batteries – Epiq, Exide Gold and Exide Cabby. The battery manufacturer’s net profit dropped by 42% to 155 Cr in Q3FY19.
| Stock Data | |
| NSE Code | EXIDEIND |
| Sector | Nifty 500 |
| 52W High | 1003 |
| 52W Low | 433 |
| Face Value | 10 |
TECHNICAL OBSERVATIONS (WEEKLY)
- Head & Shoulder pattern formation in the weekly chart.
- The stock formed well-defined Head & Shoulder Pattern over the last 6 months and the breakout below the Neckline shows further bearishness.
TECHNICAL OBSERVATIONS (DAILY)
- Technical indicators are currently giving negative signals as the stock trades below the short term (10 day EMA) and medium term (20 day EMA) moving averages.
- Last 3 months support line was broken yesterday and the price was moving further downwards.
- Momentum indicators like the 14-week RSI are below 30 shows selling momentum and probable further fall.
