Exide industries made an attempt to recover from its 52 weeks low. From past 4 consecutive session prices have managed to protect its previous bars low indicating change in existing trend. Also prices showed positive divergence and prices provided confirmation when it gave a break above 210 levels.
Below is the chart showing detail analysis of how we captured 5% move in just 3 trading sessions.
Exide Hourly chart: (Anticipated as on 21st February, 2019)
Exide Hourly chart: (Happened as on 25th February, 2019)
(Following is the gist of analysis taken from “The Financial Waves Short Term Update”)
As shown on the daily chart, wave (c) is ongoing which looks to be in mature stages. We are showing MACD indicator and if MACD line crosses signal line from below it will indicate that prices can move towards higher levels. Hence break above 210 followed by 213 will indicate termination of wave (c) on downside and start of wave (x) on upside.
As shown on hourly chart, post making 52 weeks low near 194.30 prices witnessed a sharp rise making an intraday high near 207.90 levels. Positive divergence is being witnessed on RSI indicator however break above 210 will provide prices confirmation. It will also indicate completion of wave v on downside and start of wave a on upside.
In short, trend for Exide Industries is positive if decisive break above 210 levels is witnessed on closing basis to capture a move towards 220 levels. Bang On!
Happened: Prices have behaved precisely as expected, breaking its resistance levels of 210 providing prices confirmation of positive divergence and surged towards higher levels of 220 levels.
You can also learn the above techniques in the MOTA program in my upcoming training which is to be conducted on 2nd and 3rd of March, 2019 and learn to forecast not only for few minutes but also the long term investments. Know more here
We provide intraday call in equity segment including futures using these techniques which provided good trade setup. Subscribe now.