Investors have paid higher prices over time to buy Exide Industries Ltd. and the stock is in a rising trend channel in the medium and long term. This signals increasing optimism among investors and indicates a continued rise. It also gave a positive signal from the inverse head and shoulders formation at the break up through the resistance at 181.
Further rise to 231 or more is signaled. The stock has broken a resistance level in the short term and given a positive signal for the short-term trading range. The stock is testing resistance at rupee 183.
This could give a negative reaction, but an upward breakthrough of rupee 183 means a positive signal. The stock is overall assessed as technically positive for the medium-long term.
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