Technical Analysis of Indian Equities by Nooresh

Exide Industries and AmaraRaja Batteries–Time for a Comeback ?

Although we have seen all Auto Ancillaries do well as well as the Auto Companies but these two stocks have been laggards.

Finally the prices seem to be giving an indication of a comeback.

Amar Raja

Amar Raja – After a breakdown the 830-860 mark has been a resistance zone. Can it overcome that in coming weeks.Good bottoming out done with consolidation.

Exide Inds

Exide Industries – A better chart as it has broken out after making quite a few bottoms and solid base at 190-200. Not far from its all time highs at 250.

We had last covered these names where Exide was to outperform Amar Raja – The trade worked out well .

http://www.nooreshtech.co.in/2017/02/exide-and-amara-raja-batteries-finally-time-for-exide-industries-to-play-catch-up-for-the-underperformance.html 

 

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Article by Nooresh Merani

Nooresh has written 2691 articles.

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