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The short-term outlook for the stock of Exide Industries is bullish. The stock has risen 2.46 per cent on Thursday, indicating the upmove gaining momentum, keeping intact the overall uptrend since June last year.
Strong supports are at ₹185-184 and then around ₹180. Intermediate dips to ₹185 may see fresh buyers limiting the downside. Exide Industries can rise to ₹205-208 over the next couple of weeks. Traders can go long now.
Read also: Exide Industries to invest ₹6,000 crore on Lithium ion cell unit
Accumulate on dips at ₹186. Stop-loss can be initially kept at ₹179. Trail the stop-loss up to ₹192 as soon as the stock moves up to ₹197. Move the stop-loss further up to ₹198 when Exide Industries touches ₹201 on the upside. Book profits at ₹204.
Note: The recommendations are based on technical analysis. There is risk of loss in trading
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