RK Global Shares & Securities recommended buying Exide Industries on dips to Rs 146 for a target of Rs 151 with a strict stop loss placed (on daily closing basis) Rs 143.50 from tenure of 3-4 days.
"The stock rebounded exactly from its 200DEMA and is on recovery mode. It closed at highest point of the day with a bullish engulfing candle pattern. It is trading above both the short term moving averages. We saw steep recovery in the RSI and Stochastic on daily chart along with a bullish indication from +DI - DI. So, we recommend a `Buy` call in the script for the immediate target of Rs 151,'' firm said.
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