Sell Exide Industries: Chandan Taparia

Chandan Taparia of Anand Rathi Financial Services is of the view that one can sell Exide Industries with a target of Rs 148.

Chandan Taparia of Anand Rathi Financial Services told CNBC-TV18, "We are observing the built up of short positions in the Exide Industries . The stock has corrected in last 3-4 trading sessions, it has broken its major support trend line and also trading below 50 day moving average. So we are expecting this stock to correct to Rs 148 level. Traders can sell the stock with stoploss of Rs 159."

At 13:56 hrs Exide Industries was quoting at Rs 152.55, down Rs 6.25, or 3.94 percent. It has touched an intraday high of Rs 158 and an intraday low of Rs 152.15.

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