Exide Industries touching channel resistance go short

29 Kas 2016

Exide Industries has been trading in bearish channel in my previous analysis I advised to go long up the channel resistance which it has almost touched, now it is trading at the edge of channel resistance and may reverse from here, traders may enter short somewhere between 178-179 with a target of around 162-160 which is strong support also 50% fibo level. it is advisable to watch breakout upward if breakout occurs exit with small stop loss.