Buy Exide Industries, target Rs 240: Vaishali Parekh
Buy Exide Industries at a price target of Rs 240 and a stop loss at Rs 208.
Vaishali Parekh of Prabhudas Lilladher has a buy call on Exide Industries with a target price of Rs 240.
The current market price of Exide Industries is Rs 218.45.
Time period given by the analyst is two weeks when Exide Industries price can reach the defined target.
Vaishali Parekh recommended keeping a stop loss at Rs 208.
"The stock has made a higher bottom formation pattern in the daily chart to signify strength and is on the verge of a breakout above the 50-DMA moving average to improve the bias. With also the RSI indicating a trend reversal to signal a buy, the chart looks attractive for a further upward move," said Parekh.
Exide Industries, incorporated in the year 1947, is a midcap company (having a market cap of Rs 18,534.25 crore) operating in the auto ancillaries sector.
The current market price of Exide Industries is Rs 218.45.
Time period given by the analyst is two weeks when Exide Industries price can reach the defined target.
Vaishali Parekh recommended keeping a stop loss at Rs 208.
"The stock has made a higher bottom formation pattern in the daily chart to signify strength and is on the verge of a breakout above the 50-DMA moving average to improve the bias. With also the RSI indicating a trend reversal to signal a buy, the chart looks attractive for a further upward move," said Parekh.
Exide Industries, incorporated in the year 1947, is a midcap company (having a market cap of Rs 18,534.25 crore) operating in the auto ancillaries sector.
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