EXIDEIND trade ideas
Trend line BreakoutStock has broken out from the downward sloping trend line on the weekly charts.
Price breakout is accompanied with jump in volumes.
On 27th july 2022 stock surpassed the crucial resistances of 200 days EMA with rising volumes.
After breaking out, stock showed throwback towards previous resistance and expected to resume its uptrend.
Stock is placed above its 20,50,100 and 200 DMA, which indicates bullish trend on all time frames.
indicators and Oscillators like RSI and MACD have been showing strength in the current uptrend.
Target 184/210
exideCompany has incorporated a wholly owned subsidiary, viz., EXIDE ENERGY SOLUTIONS LIMITED ("WOS") to set up a green field multi-gigawatt Lithium-ion cell manufacturing facility in India with an initial authorized and paid up equity share capital of Rs. 100,000.
The main object of the WOS is to carry on the business of manufacturing battery cells of advanced chemical and form factor, including but not limited to cylindrical, pouch, prismatic, (the "Battery Cells"), as well as manufacturing, assembling, selling battery modules, battery packs and other related activities thereto.