Exide Ind finding strong trend line support at current levels, close watch as long as stock holds above its support zone @ 240.50 bulls will be favored. Once Exide breaks and holds below 240.50 then weakness expecting.
Stock was on news – As per latest report published on 09th October 2018 – Motilal Oswal, The brokerage house expects Exide Industries to report net profit at Rs. 224.4 crore up 37.6% year-on-year (up 6.9% quarter-on-quarter). Net Sales are expected to increase by 17.5 percent Y-o-Y (up 0.5 percent Q-o-Q) to Rs. 2,786.3 crore, according to Motilal Oswal.
Also as per another report – Shitij Gandhi of SMC Global Securities gave a sell call in Exide Industries. He can once can take a short position on Exide around 243-247 with a share price target aound 229. He suggested a stop loss of Rs.258.