Go long in Exide Industries: Ashish Chaturmohta

Ashish Chaturmohta of Fortune Equity Broker recommends going long in Exide Industries with a target of Rs 180-184 levels in next one-two weeks.

Ashish Chaturmohta of Fortune Equity Broker told CNBC-TV18, "Post results, in Exide Industries  we have observed a very strong build up of positions. The stock has been continuously consolidating between Rs 154-165 levels and today we have seen a good breakout above Rs 165 levels. It is a clear breakout on the weekly charts as well. So we expect a strong short covering in the stock in next couple of trading sessions."

"One can initiate a long position at current levels with a stoploss below Rs 158 whereas on the upside we expect the stock to target Rs 180-184 levels in next one-two weeks," he added.

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