Exide Industries – Ready for Breakout After Long Accumulation

📈 Exide Industries – Ready for Breakout After Long Accumulation

Chart Pattern:
Stock has been consolidating in an accumulation phase after forming a Bullish Order Block around ₹320–340.

A cup-shaped structure has developed with higher lows, indicating strong demand absorption.

Price has now broken out above the falling trendline resistance and is trading around ₹412.

Key Levels to Watch:

Immediate Support: ₹387–400 zone (previous resistance, now support).

Resistance 1: ₹455–465

Resistance 2: ₹515–525

Resistance 3 / Target Zone: ₹575–585

All-Time High: ₹620+

Trade Setup Idea:

✅ Entry Zone: ₹400–415 (on dips or sustaining above breakout).

🎯 Targets:

₹460 (Resistance 1)

₹520 (Resistance 2)

₹580 (Resistance 3)

🛡️ Stop Loss: Below ₹385 (closing basis).

Technical Confluence:

Breakout from multi-month trendline.

Strong accumulation visible in volumes.

Cup & handle–like formation suggesting momentum build-up.

⚡ View: Medium-term bullish. A breakout above ₹460 can open the gates for higher targets up to ₹580–600.