EXIDE INDUSTRIES LTD.

EXIDEIND|BSE: 500086| ISIN CODE: INE302A01020| SECTOR: AUTO ANCILLARIES

On the Daily chart of EXIDEIND, we are seeing the inverse Head and Shoulder pattern which indicates the reversal of a downward trend in price action. the stock has moved on higher levels breaking above the neckline of inverse head and shoulder pattern. A Bullish white body appeared on the candle as well as prices are taking support from 9 days Moving average.

In short, trend for Exide Ind. looks to be positive for now. As prices have decisively broken above 190.50 level, we can expect it to reach a target of 205 based on our analysis. This outlook is valid as long as 181 remains protected on downside and any pullback should be utilized as buying opportunity.

Check More Analysis on Exide at: Exide Industries

TECH MAHINDRA LTD.

TECHM|BSE: 532755| ISIN CODE: INE669C01036|SECTOR: IT – SOFTWARE

As shown on daily chart, price is trading in the form of Double Bottom pattern. Stock once again took support near 940 levels and continued to move upside. In the previous trading session, stock formed an inverted hammer candle. The daily MACD is bullish which shows the strength of the trend.

In short, TECHM has continued to trade in the positive zone. Now move above 995 level will confirm the uptrend and open up gates for higher levels towards 1025. As far as 968 remains intact on the lower side.

Check More Analysis on TechM at: Tech Mahindra