Exide is looking to improve its market position by launching new models at the lower end and taking share from unorganized and organized entities.
Exide retraced significantly from its record high post breakdown and tested major support of long term average i.e. 200 EMA around 136 level in June, 2015 and consolidating since then. And, it has completed a formation of fresh buying pivot recently, after four months of consolidation and likely to see upward breakout soon. Participants can gradually accumulate it in the given range of 156-159 with closing below stop loss of 147 for the target of 185.