Exide Industries is still a buy and a rally to Rs 144 can still come about, says Sudarshan Sukhani of s2analytics.com.
Sukhani told CNBC-TV18, “Technically Exide Industries is not a sell. It is still a buy. Yesterday was a disappointing day, the stock fell, it has come down to support."
He further added, "If support holds, if the current levels hold that is the support then I would say that it is still a buy and a rally to Rs 144 can still come about. We will see how the market reacts but if it doesn’t push it down that would be a positive for it.”
The share touched its 52-week high Rs 166.30 and 52-week low Rs 121.40 on 19 October, 2012 and 16 May, 2012, respectively. Currently, it is trading 22.97% below its 52-week high and 5.52% above its 52-week low. Market capitalisation stands at Rs 10,888.50 crore.