Exide Ind can move to Rs 149-150: Manghnani

Exide Industries can move to Rs 149-150, says Anil Manghnani, Modern Shares & Stock Brokers.

Manghnani told CNBC-TV18, "IDFC broke a key support at Rs 124. I think I will wait for the bounce again to sell it. I think maybe back to closer to Rs 129 where this week it broke down below a rising trend line would be the short area maybe the stoploss of around Rs 132 but I think eventually after the pop over the next couple of days should head back to Rs 120-115 kind of levels."
He further added, "This week Exide Industries is one of the stronger names, it has broken out of a falling trend line at Rs 138. So I would keep Rs 138 as a stoploss and expect it to move back to about Rs 149-150."