EXIDEIND 16.07.2018 01:30PM

Exide Industries stock’s technical chart has taken the formation of “Risingchannel” pattern in a 4hr time frame. As we can see the last few sessions bearish in trend and has ended up retesting near the channel’s support slope line. As per the technical aspects of the pattern, the retest is expected to turn the trend to bullish. The positive rally could be testing all the way through 268-270-274 levels in the upcoming sessions. On the other hand, the stock might have a chance to turn negative once the market breaks below the key support holding at 264. And the downside rally could test 260-258 levels. Key resistance holds at 274.

Technical Chart:

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