Exide saw an exceptional rally from 30 to 160 during its recovery phase in the year 2009-2010 and made a new life-time high.
It witnessed prolong corrective phase thereafter, which started in early 2011 and continued till May, 2014. Meanwhile, it retested its major supports of long term averages (100 EMA and 200 EMA) multiple times on weekly chart and slipped below 100 mark twice.
It has been maintaining upward bias since May, 2014 and recently witnessed a major upside breakout with noticeable rise in volume. One can initiate fresh long positions between172 -CMP (175.05) with closing below stop loss of 162 level for the target of 200 level.