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Investors with a short-term perspective can sell the stock of Exide Industries at current levels. The stock has been in an intermediate-term downtrend since encountering a resistance at ₹233 in March 2019. Medium- as well as short-term trend are down for the stock.
The short-term outlook is bearish for the stock. It can continue to trend downwards and reach the price targets of ₹162 and ₹159 in the coming trading sessions. Sell the stock with a stop-loss at ₹173.
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