Potential Bullish Breakout Setup in Exide Industries Ltd.

This daily chart of Exide Industries Ltd. highlights a potential bullish setup, with key Fibonacci retracement levels drawn from the recent swing low at ₹480.55 to the swing high at ₹514.25. The price is consolidating around the 0.618 Fibonacci level, a critical support zone, which could indicate a potential reversal to the upside.

The price is currently near the ₹504.30 level, and a move higher could lead to a significant rally toward the ₹671.35 level (100% Fibonacci extension) and possibly ₹789.30 (1.618 Fibonacci extension).

Key Levels:

Support: ₹480.30 (Fibonacci 1.0 retracement)
Resistance: ₹514.25 (Fibonacci 0.0 retracement)
Potential Targets: ₹671.35 (100% Fibonacci extension), ₹789.30 (1.618 Fibonacci extension)
Analysis: The current consolidation near the 0.618 Fibonacci retracement suggests the possibility of a bullish reversal. Traders should watch for signs of strong buying activity or bullish candlestick patterns that confirm the move higher. The key resistance levels and Fibonacci extensions offer attractive target