PL Technical Research: Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt.

PL Technical Research: BUY EXIDE INDS CMP: 261 TRGT: 295 SL: 248 - MEDIUM TERM TECH PICK - The stock has witnessed a decent rally with a strong uptrend maintained and recently after peaking out near 280 zone has slightly slipped with profit booking and has taken support near the significant 50EMA level with 254 forming a good base where it has consolidated quite well and is well poised for further rise with signs of positive bias witnessed.

The RSI is well placed currently cooling off from near the overbought zone and has indicated a trend reversal to signal a buy. We suggest to buy and accumulate the stock for an upside target of 295 keeping the stop loss of 248.