Technical Analysis of Indian Equities by Nooresh

Exide and Amara Raja Batteries – Finally time for Exide Industries to play catch up for the underperformance ?

Amara Raja Batteries and Exide Industries are two competitors in the same industry and there have been huge market share change in the product towards Amar Raja in the last few years.

The same has been reflected in the Price moves.

AmarRaja Batteries went up 10x in 2011-2015 and Exide was a laggard in that period.

Of late for the last few months the price movement is changing towards outperformance of Exide Inds.

Amara Raja Batteries Technical Chart ( Weekly)

AmarRaja Batteries

  • Sideways for the last two years and multiple supports at 800-850.
  • The stock moved up 10x in 2011-2015.
  • Now is close to important supports.

Exide Inds Technical Chart ( Weekly )

Exide Inds comparison

  • Has crossed the highs of last two years at 205-210.
  • Was a laggard from 2011-2015 with hardly any price appreciation.
  • Now has broken out into all time highs.
  • Finally seems to be catching up.

Conclusion :

  • The fundamental view could have various parameters and this post is not based on the same.
  • Technically Exide Industries is now into 2 years high and AmaraRaja Batteries getting closer to 2 year lows.
  • Does it seem like trend is shifting towards positive for Exide Industries ?

Disclosure - Exide Industries has been recommended at 175 in Analyse India Big Value 3.0 .

 

Nooresh Merani

Securities covered above:: Amara Raja Batteries , Exide Industries

SEBI Registration disclosure – Investment Adviser ( INA000002991)

Financial Interest:

Nooresh Merani and his family/associates/ analysts do not have exposure in the securities mentioned in the above report/article.

Nooresh Merani and his family/associates/ analysts do not have any financial interest/beneficial ownership of more than 1% in the company covered by Analyst.

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The views expressed are based solely on information available publicly and believed to be true. Investors are advised to independently evaluate the market conditions/risks involved before making any investment decision

Article by Nooresh Merani

Nooresh has written 2740 articles.

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{ 4 comments… add one }
  • Nilesh February 13, 2017, 21:44

    Good view sir.

    Reply
  • Nilesh February 13, 2017, 21:45

    Good

    Reply
  • HG February 14, 2017, 17:36

    Keep in mind that lead prices are going up. I expect both companies stock prices to start reflecting that soon….

    Reply
  • Jagadish February 16, 2017, 23:00

    I am o

    Reply

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