🚀 Exide Industries Breaks Out of a Multi-Month Cup Pattern

📈 Technical Analysis 🔹 Elliott Wave Structure The prolonged corrective phase appears to have completed Wave 4, with the recent breakout indicating the beginning of Wave 5. A decisive move above the long-standing resistance suggests buyers are regaining control and a fresh impulsive rally could be underway. 🔹 MACD Confirmation The MACD has generated a bullish crossover while moving into positive territory, confirming strengthening momentum. There is currently no significant bearish divergence, supporting the continuation of the prevailing uptrend. 🔹 AVWAP Support Price has reclaimed and is trading above the Anchored VWAP, which now acts as an important dynamic support level. Sustaining above this zone reflects institutional participation and strengthens the overall bullish structure. 💼 Fundamental Strength Exide Industries continues to benefit from a solid business foundation: ✅ Healthy ROCE supported by efficient capital allocation. ✅ Consistent revenue and profit growth backed by a strong market presence. ✅ Leadership in India's automotive and industrial battery segments. ✅ Long-term growth opportunity from expanding investments in lithium-ion cell manufacturing and EV battery technologies. ✅ Strong balance sheet and healthy cash flows supporting future expansion.