Breakout and retest done, could move to north from hereon

Long

EXIDE INDUSTRIES LTD. (BSE:EXIDEIND)

BSE:EXIDEIND EXIDE INDUSTRIES LTD.

parallelchannel volumestudies bullish breakout

Target : 200/208/215/225/235

SL : 179

Reason : Exide Life stake sale boosts EXID balance sheet considerably, with overn Rs 60b worth of stake in HDFC Life now available at its disposal. With EXID possibly looking to invest in lithium-ion cell manufacturing under the PLI scheme, this monetization of the Insurance business could not have come at a better time.

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