EXIDEIND – How to select stocks for investment using Elliott wave and KST

elliott wave investment stock Aug 21, 2023
EXIDEIND – How to select stocks for investment using Elliott wave and KST

We published about Exide Industries in June 2023 and predicted a possibility of Multibagger returns in the coming 2-3 years. Recently this stock has managed to hold its gain and gave more than 18% returns in less than 2 months of time and made a lifetime high near 271.5.

Below is the chart which shows a detailed analysis of Exide Ind which helped to predict this up move using Elliott Wave technique and Time cycle and indicators. We recommended this stock when it was trading near the 232 levels and was successfully able to catch the up move.

Exide Industries Weekly chart Anticipated as on 27th June 2023 Exide Industries Happened Daily chart as on 18th August 2023Multibagger stock recommendation: Titan

Buy Price – Buy at CMP 232 more on dips towards 200 level.

Time Horizon – 2-3 years

Investment – 5% of capital

Target price –??

Stop loss -??

Refer detailed research below

Elliott Wave Analysis: In the weekly time frame as per wave perspective, the entire correction is in form of Primary wave [4] which was in form of Diametric pattern. This pattern helps to catch potential breakouts or reversals in particular direction. Primary wave [4] was completed near the lows of 132 levels in June 2022. Stock precisely reversed from there and since then primary wave [5].

Indicator Analysis: In the above chart supertrend continued to show green signal which indicates overall trend is positive. Along with this, we can see this indicator has provided support and resistance to prices from time to time. So, for now any dip towards the supertrend i.e. towards 200 levels can be used as a buying opportunity. Also, prices have given a breakout of a classic Double Bottom pattern. All signs are suggesting that one can accumulate this stock at current levels.

On the other hand, KST has turned above signal line and also trading above signal line which suggest that further good momentum can continue to be seen.

Happened: The stock is moving exactly as we expected. Currently, Exide Industries is trading near 268 levels. Recently It made a new lifetime high near 271.5 levels. The up move has been strong and we expect prices to achieve its target of .... levels in coming months. The stock is giving a return of 18% in less than 2 months of span.

Trade objectively and be thrilled to see much before how the markets can move rather than relying on news or events to take trading decisions. check here

Do not miss this opportunity especially when Markets are at important juncture..!!!