Sell Exide Industries Future; target of Rs 110: IIFL

20468 Investors following Exide Industrie. Share this News with them.

0

Like this story, share it with millions of investors on M3

Sell Exide Industries Future; target of Rs 110: IIFL

According to IIFL, traders can sell Exide Industries November Futures below Rs 116 with stop loss of Rs 119 for a target of Rs 110, in its November 17, 2011 research report.

Post your opinion here

 

0

Tweet

Share on Tumblr

RELATED NEWS Buy Unitech; target Rs 45: PINC Research Accumulate Bank of India; target Rs 346: Angel Broking Buy Tata Steel; target Rs 510: Angel Broking ALSO READ See previous views by IIFL See what other Experts & Brokerages are saying about Exide Industrie See messages about Exide Industrie Exide Industrie BSE | NSE 01/06/12 Are Mutual Funds betting on Exide Industrie?

According to IIFL, traders can sell Exide Industries November Futures below Rs 116 with stop loss of Rs 119 for a target of Rs 110, in its November 17, 2011 research report.

"Exide Industries has been forming the pattern of lower high and lower lows since the start of the week. The downtrend is likely to continue in the near term after it closed below multiple moving averages. Over the last one week, the stock was holding around its 50-DMA, which was broken convincingly this week, confirming the downtrend. The daily RSI as well as the MACD continue to depict negative trend. In view of the above mentioned technical evidences, we recommend traders to sell Exide Industries November Futures below Rs 116 with stop loss of Rs 119 for a target of Rs 110," says IIFL research report.

Institutional holding more than 40% in Indian cos

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click on the attachment