Feb 13, 2013, 09.09 AM | Source: CNBC-TV18
Buy Exide Industries, says Sudarshan Sukhani of s2analytics.com.
Sudarshan Sukhani (more)
Technical Analyst, s2analytics.com | Capital Expertise: Equity - Technical
Sukhani told CNBC-TV18, " Exide Industries had a very interesting chart. It had that big gap down after results at Rs 132. After spending about three weeks in that small range below Rs 132 yesterday it came back. What it is telling us probably is that it is willing to fill that gap again. That is a bullish sign. A down gap and a price action that now says okay that gap is going to be filled. So if not anything the filling of that gap itself will give buying opportunities.”
He further added, “Traders can make Rs 5-7 on the upside as it tries to go up. So the long-term charts of Exide are fairly decent and an intraday trade has now emerged."