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5 Things To Check Before Market Open (Checklist 2020)

Do you know if you want to be a successful trader then you must follow a checklist before entering into any trade? 
Yes, in this article I am going to share the checklist with you. I am going to tell you 5 things which you must check before the market open. You must follow these rules if you are trading regularly. Let’s start.

Review – 
You know that trend is your friend. You must know that technical analysis is based on historical price movements. 
It is a probability that you will favor you if you have this knowledge. So the basic foundation of technical analysis is to look back the history and observe the price behavior in certain circumstances and situations.
So in this step, you should review the price actions of the stocks and markets historically. The time period will depend on your trading style. 
If you are a day trader then you should check the price movement of markets for a week. 
If you are a swing trader then you should review 2-3 months chart. If you are a long term trader the…

Technical Analysis of Exide Industries




Technical Analysis of Exide Industries


Happy new year to all of you. I hope this year and this decade will bring happiness to you. Most importantly try to live in peace. I often say that peace is the important thing which we all should follow not the money. 


In this post I have come with a stock and its technical chart. This may be an opportunity. Whether you will buy or sell that is completely your call. I will only discuss about the charts of this stock and try to conduct a technical analysis and present my view.


So the stock name is EXIDE Industries and we will look upon the weekly chart of this stock. But before that let’s check a background of this company.


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For more than six decades, Exide has been one of India's most reliable brands, enjoying unrivaled reputation and recall. Its constant emphasis on innovation, extensive geographic footprint, strong relationship with marquee clients and steady technology up-gradations with global business partners have made it a distinct front-runner in the lead-acid storage batteries space for both automotive and industrial applications.



Let’s have a look in the weekly chart of this stock.


exide industries chart pattern



If you closely observe than you can see the famous head and shoulder pattern in the chart where it had made the neck of this pattern around 175. But as we know that head and should pattern are bearish sign for stocks. So it is possible that this stock’s price may decline in future.


Another reason for the decline is the level of nifty. If you try to observe than you will see that nifty is at its all-time high whereas EXIDE industry is struggling to hold its base formed around 175. Additionally, it has a stiff resistance at 200. It has tested that level 4 times in the chart and declined from that zone.


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So all these reasons are according to me pointing towards the downside of this stock. If nifty corrects from this level, then this stock will become a favorite for short selling. 


So avoid this stock from fresh buying and sell it if it comes around 200 level. If you are an aggressive trader, then you can also short sell this stock around 200-205.

This was my analysis for this stock. I hope it will be helpful to you. Thanks for your time.


Stay happy, stay healthy.


CA Ashish Kumar


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