Batteries / auto componentsHistorical case study · data as of 10 Jul 2026 · published 14 Oct 2026 (96 days later)
Exide Industries — 100-point case study
How Exide Industries looked on 50 technical and 50 fundamental measures on 10 Jul 2026 — and what happened over the next three months. Education only; not a current view.
Close (to snapshot) Close (after) 50-day avg 200-day avg Support Resistance
Data note: Quarterly and shareholding tables come from tapetide.com (consolidated; quarterly totals match Screener's FY26 annual figures) because Screener's tables were unavailable. Part of the price history comes from equitypandit.com (cross-checked with Yahoo).
Technical analysis — 50 points
Calculated by code from daily prices up to 10 Jul 2026. Standard formulas (RSI, MACD, ADX use Wilder smoothing).
How to read the tags. Each of the 50 points gets one tag. Bullish the reading was favourable. Bearish the reading was unfavourable. Neutral the reading was in a normal range, or gave no clear message. Caution a warning sign or an unusual reading that deserves a closer look. Point 50 counts the other 49 tags. The chart is called positive when bullish tags beat bearish ones by 5 or more, negative when bearish tags beat bullish ones by 5 or more, and mixed otherwise. Under each point you will see what reading earns which tag. Tags describe the data on the snapshot date. They are not signals to buy or sell. Full guide to all 100 points →
A. Trend
#
Point
Reading
Tag
Commentary
1
Short-term trend (20 days)
slope +0.55%/day
Bullish
Over the last 20 sessions the regression line of closing prices was rising about 0.55% a day — a short-term uptrend.
Bullish slope above +0.10% a day (short-term uptrend) · Bearish slope below –0.10% a day (short-term downtrend) · Neutral between the two: a flat, sideways phase.
2
Medium-term trend (~5 months)
3M return +35.1%
Bullish
The 100-session trend line was up (+0.30%/day) and the stock was +35.1% over three months, so the medium-term picture was bullish.
Bullish slope above +0.05% a day · Bearish slope below –0.05% a day · Neutral in between.
3
Long-term trend (1 year)
1Y return +9.1%
Neutral
Compared with a year earlier the price was +9.1%. Little net progress over twelve months.
Bullish up more than 10% in a year · Bearish down more than 10% in a year · Neutral between –10% and +10%.
4
Weekly chart trend
10W 384.06 / 30W 349.58
Bullish
On the weekly chart the stock showed a weekly close above a rising 10-week and 30-week average stack.
Bullish weekly close above the 10-week average, which is above the 30-week · Bearish weekly close below the 10-week average, which is below the 30-week · Neutral when they are tangled.
5
Swing structure (highs/lows)
last highs 409.80→399.45; lows 380.35→377.70
Bearish
The two most recent swing points showed lower swing highs and lower swing lows — classic downtrend structure.
Bullish higher highs and higher lows (uptrend structure) · Bearish lower highs and lower lows (downtrend structure) · Neutral when one is higher and the other lower.
6
ADX (14) — trend strength
33.1
Bullish
ADX at 33.1 shows a strong trend in force. ADX measures strength only, not direction.
Bullish ADX 20 or more with +DI above –DI (a real trend, pointing up) · Bearish ADX 20 or more with –DI above +DI (a real trend, pointing down) · Neutral below 20: no clear trend. 20–30 is a moderate trend, above 30 a strong one.
7
+DI vs –DI
+DI 36.6 / –DI 13.3
Bullish
+DI was above –DI: upward price pressure outweighed downward pressure.
Bullish +DI above –DI · Bearish –DI above +DI · No neutral zone for this point.
B. Moving averages
#
Point
Reading
Tag
Commentary
8
Price vs 20-day SMA
399.03 (+6.4%)
Bullish
Close of 424.40 was 6.4% above the 20-day SMA — the short-term trend filter was positive.
Bullish close above the average · Bearish close below the average · No neutral zone.
9
Price vs 50-day SMA
380.05 (+11.7%)
Bullish
Close of 424.40 was 11.7% above the 50-day SMA — the medium-term trend filter was positive.
Bullish close above the average · Bearish close below the average · No neutral zone.
10
Price vs 200-day SMA
360.84 (+17.6%)
Bullish
Close of 424.40 was 17.6% above the 200-day SMA — the long-term trend filter was positive.
Bullish close above the average · Bearish close below the average · No neutral zone.
11
9 / 21 EMA crossover
9E 414.05 / 21E 401.95
Bullish
The 9-day EMA was above the 21-day EMA; the last crossover happened on 25 May 2026.
The 50-day average was 5.3% above the 200-day. The most recent signal was a golden cross on 22 Jun 2026.
Bullish 50-day above 200-day (after a “golden cross”) · Bearish 50-day below 200-day (after a “death cross”) · No neutral zone.
13
50-day SMA slope
+8.7% in 20 sessions
Bullish
The 50-day average rose 8.7% over the past month — rising.
Bullish rose more than 0.5% · Bearish fell more than 0.5% · Neutral in between: flattening.
14
MA ribbon alignment
399 / 380 / 351 / 361
Neutral
The 20/50/100/200-day averages were tangled — no clean order, typical of a transition or range.
Bullish neatly stacked 20 > 50 > 100 > 200 · Bearish neatly stacked 20 < 50 < 100 < 200 · Neutral when tangled (a transition or range).
15
Monthly anchored VWAP
415.18 (+2.2%)
Bullish
Anchored to the start of July, the volume-weighted average price was 415.18; the close was above it — buyers that month were on average in profit.
Bullish close above VWAP (that month’s buyers on average in profit) · Bearish close below VWAP · No neutral zone.
C. Momentum
#
Point
Reading
Tag
Commentary
16
RSI (14)
68.2
Bullish
RSI at 68.2 showed positive momentum without being overbought.
Bullish RSI 55–70 (positive momentum, not stretched) · Bearish RSI 30–45 (soft momentum) · Neutral 45–55. Caution at 70 or above (overbought) or 30 or below (oversold).
17
RSI divergence (last 40 days)
bearish divergence
Caution
Comparing the last 20 sessions with the 20 before: bearish divergence: price made a higher high but RSI made a lower high.
Bullish bullish divergence: price made a lower low but RSI a higher low · Caution for a bearish divergence (price higher high, RSI lower high). Neutral when RSI moved in line with price.
18
MACD line vs signal
MACD 12.38 / signal 10.15
Bullish
MACD was above its signal line — momentum turning or staying positive.
Bullish MACD above signal · Bearish MACD below signal · No neutral zone.
19
MACD histogram (5-day change)
1.84 → 2.24
Bullish
The histogram rose over the last five sessions, meaning momentum was improving.
Bullish up more than 2% · Bearish down more than 2% · Neutral between –2% and +2%.
D. Volatility
#
Point
Reading
Tag
Commentary
25
Bollinger Band position (%B)
%B 0.89 (bands 366.42–431.65)
Neutral
%B of 0.89 — inside the bands, upper half.
How to read: Caution above 1 or below 0 (outside the bands — an overextended move). Neutral inside the bands.
26
Bollinger width / squeeze
width 16.3% (60th pct of 6M)
Neutral
Band width was at the 60th percentile of the last six months, a normal level.
How to read: Caution when the width is in the lowest 15% of six months (a “squeeze” that often comes before a bigger move, direction unknown). Neutral otherwise.
27
ATR (14)
₹12.03 (2.8% of price)
Neutral
A typical day's range was about ₹12.03, or 2.8% of the price — useful for judging how much 'normal noise' to expect.
How to read: Information only. A higher % means bigger normal daily swings.
28
Historical volatility (30-day)
34.7% vs 1Y 28.7%
Neutral
Annualised 30-day volatility was 34.7%, close to the one-year level of 28.7%.
How to read: Caution when 30-day volatility is more than 1.25× the one-year level. Neutral otherwise.
29
Keltner Channel (20, 2×ATR)
378.70–426.87
Neutral
The close was inside the channel, so no volatility breakout.
Bullish close above the upper channel (strong upward push) · Bearish close below the lower channel · Neutral inside the channel.
30
Beta vs Nifty 50 (1Y daily)
1.22
Neutral
A beta of 1.22 means the stock tended to move more than the Nifty 50 day to day.
How to read: Information only. Above 1.1 moves more than the market, below 0.9 less, around 1 in line.
E. Volume & money flow
#
Point
Reading
Tag
Commentary
31
Volume vs 20-day average
last day 0.86× / 5-day 1.08×
Neutral
The final session traded 0.86× its 20-day average volume and the last five sessions averaged 1.08× — normal participation.
How to read: Information only. Above 1.2× is heavier than usual participation, below 0.8× lighter.
32
Up-day vs down-day volume (20d)
ratio 2.39
Bullish
Average volume on up days was 2.39× that on down days — accumulation-leaning.
Bullish ratio above 1.15 (accumulation-leaning) · Bearish ratio below 0.85 (distribution-leaning) · Neutral between 0.85 and 1.15.
33
On-Balance Volume (20d)
OBV rising
Bullish
OBV rose over the month while price rose — volume confirmed the price move.
About ₹167 crore changed hands per day on average over 20 sessions — liquid.
How to read: Information only. Above ₹500 crore a day is highly liquid, above ₹50 crore liquid, below that moderately liquid.
F. Price levels
#
Point
Reading
Tag
Commentary
38
Support levels (S1/S2/S3)
413.85 / 378.32 / 358.18
Neutral
Nearest support (prior swing lows) sat at 413.85, 2.5% below the close, then 378.32, 358.18.
How to read: Information only. Levels to watch, not good or bad.
39
Resistance levels (R1/R2/R3)
428.43
Neutral
Nearest resistance (prior swing highs) sat at 428.43, 0.9% above the close.
How to read: Information only.
40
Monthly pivot points (for next month)
P 413.73 | R1 441.67 | S1 396.47
Neutral
Classic pivots from July's high/low/close gave a pivot of 413.73; the close was above it.
How to read: Information only.
41
Fibonacci retracement (6M swing)
23.6% 397 | 38.2% 376 | 50.0% 359 | 61.8% 342
Neutral
Measuring the 6-month rise from 287.00 to 431.00, the close was nearest the 23.6% retracement at 397.02.
How to read: Information only.
42
52-week high / low
H 431.00 / L 287.00
Bullish
The close was 1.5% below the 52-week high and 47.9% above the 52-week low.
Bullish within 5% of the 52-week high · Bearish within 5% of the 52-week low · Neutral in between.
43
Unfilled price gaps (6M)
2 open; latest gap-up 02 Jul at 391.10
Neutral
There were 2 unfilled gap(s). The latest, a gap-up on 02 Jul 2026, left an open level at 391.10 that price had not revisited.
How to read: Information only.
G. Patterns
#
Point
Reading
Tag
Commentary
44
Price structure / chart pattern
rising channel
Bullish
Rule-based pattern scan: rising channel — successive higher highs and lows. (Classical patterns like head-and-shoulders are judgement calls; we report only what the rules detect.)
Bullish rising channel (both trends up) · Bearish falling channel (both trends down) · Neutral for tight consolidation, a bounce in a downtrend, a pullback in an uptrend, or a sideways range.
45
Breakout / breakdown (20-day)
range 377.70–428.90
Neutral
The close was inside the prior 20-day range of 377.70–428.90.
Bullish close above the 20-day high (breakout) · Bearish close below the 20-day low (breakdown) · Neutral inside the range.
46
Latest candlestick
Ordinary red candle
Neutral
On 10 Jul the candle opened 429.00, ranged 422.15–431.00 and closed 424.40: Ordinary red candle. Single candles are weak signals on their own.
Bullish hammer, bullish engulfing or bullish marubozu · Bearish shooting star, bearish engulfing or bearish marubozu · Neutral for a doji, inside bar or ordinary candle. Single candles are weak signals.
47
Ichimoku Cloud
cloud 347.95–372.35; Tenkan 408.27 / Kijun 404.35
Bullish
Price was above the cloud and the Tenkan line was above the Kijun line — a bullish Ichimoku setup.
Bullish close above the cloud · Bearish close below the cloud · Neutral inside the cloud.
H. Relative strength & summary
#
Point
Reading
Tag
Commentary
48
Relative strength vs Nifty 50
1M +5.6% / 3M +34.2%
Bullish
The stock outperformed the Nifty 50 by 34.2 points over three months and outperformed by 5.6 points over one month.
Bullish ahead of the Nifty 50 by more than 2 points · Bearish behind by more than 2 points · Neutral within ±2 points.
49
Relative strength vs Nifty 50 (6M)
6M +22.8%
Bullish
No sector index in today's data set, so we show the 6-month comparison instead: 22.8 points ahead of the Nifty 50.
Bullish ahead by more than 2 points · Bearish behind by more than 2 points · Neutral within ±2 points.
50
Technical summary
27 bullish · 1 bearish · 17 neutral · 4 caution
Bullish
Across the 49 readings the technical picture leaned positive. Levels that mattered: support 413.85, resistance 428.43. This is a description of the chart on 10 Jul 2026, not a forecast. How to read the score: the strongest possible reading is 49 bullish · 0 bearish, and the weakest is 0 bullish · 49 bearish. Most companies land in between. The chart is called positive when bullish tags beat bearish ones by 5 or more, negative when bearish tags beat bullish ones by 5 or more, and mixed otherwise. Even a 49–0 score describes the past and is not a reason to buy, and a 0–49 score is not a reason to sell.
Bullish bullish tags beat bearish ones by 5 or more (“positive”) · Bearish bearish tags beat bullish ones by 5 or more (“negative”) · Neutral (“mixed”) otherwise. Strongest possible: 49 bullish · 0 bearish.
Fundamental analysis — 50 points
Uses only results published by 10 Jul 2026: FY26 annual (Apr 2025–Mar 2026), the Jan–Mar 2026 quarter and the Mar 2026 shareholding. ₹ crore, consolidated unless stated. Valuation uses the 10 Jul 2026 close.
How to read the tags. Each of the 50 points gets one tag. Bullish the reading was favourable. Bearish the reading was unfavourable. Neutral the reading was in a normal range, or gave no clear message. Caution a warning sign or an unusual reading that deserves a closer look. Point 50 counts the other 49 tags. The numbers are called positive when bullish tags beat bearish ones by 4 or more and are at least 1.5 times as many, negative the other way round, and mixed otherwise. Under each point you will see what reading earns which tag. Tags describe the data on the snapshot date. They are not signals to buy or sell. Full guide to all 100 points →
A. Valuation
#
Point
Reading
Tag
Commentary
1
P/E (trailing 12 months)
41.9×
Neutral
At ₹424.40 the market valued the company at about ₹36,053 crore, or 41.9× the ₹861 crore profit of the four quarters to Mar 2026. That is a premium multiple — the market expected growth.
How to read: Information only. Below 15 is a low multiple, 15–30 moderate, above 30 a premium (the market expects growth). Compare with peers and the company’s own history.
2
Price / Book
2.59×
Neutral
Market cap was 2.59× the Mar 2026 book value (equity + reserves) of ₹13,905 crore.
How to read: Information only. Main yardstick for banks; asset-light businesses usually trade at high P/B.
3
Price / Sales
2.00×
Neutral
The company was valued at 2.00× its trailing-12-month sales of ₹17,996 crore.
How to read: Information only.
4
EV / EBITDA (approx.)
20.1×
Neutral
Enterprise value (market cap + ₹1,575 cr borrowings; cash not netted) was 20.1× trailing operating profit of ₹1,869 crore.
How to read: Information only. Lower means cheaper relative to operating profit.
5
Earnings yield
2.4%
Neutral
The inverse of P/E: each ₹100 invested bought about ₹2.4 of annual earnings. Investors often compare this with the ~6–7% yield on 10-year government bonds.
How to read: Information only. Often compared with the ~6–7% yield on 10-year government bonds.
6
PEG (P/E ÷ 3-yr profit CAGR)
28.36
Bearish
P/E of 41.9 divided by 3-year profit growth of 1.5% a year gives a PEG of 28.36. Below 1 is often read as growth being cheaply priced; above 2 as expensive.
Bullish below 1 (growth cheaply priced) · Bearish above 2 (growth expensively priced) · Neutral 1–2, or when profit did not grow (not meaningful).
7
Dividend yield (trailing 12M)
0.94%
Neutral
Dividends with ex-dates in the 12 months to the snapshot totalled ₹4 a share, a 0.94% yield on the ₹424.40 price.
Bullish above 3% · Neutral at 3% or less. Never tagged Bearish.
8
Market capitalisation
₹36,053 cr
Neutral
At about ₹0.36 lakh crore the company was a mid-cap.
How to read: Information only. Above ₹1 lakh crore large-cap, ₹30,000 crore–₹1 lakh crore mid-cap, below that small-cap (our rule of thumb).
9
Graham number vs price
₹193.20 vs ₹424.40
Neutral
Benjamin Graham's conservative fair-value yardstick √(22.5 × EPS × book value per share) came to ₹193.20; the price was 120% above it. Quality franchises usually trade above this number.
Bullish price below the Graham number · Neutral when the price is above it (most quality companies are).
B. Growth
#
Point
Reading
Tag
Commentary
10
Revenue growth FY26 (YoY)
+4.4%
Neutral
Revenue for FY26 was ₹17,995 crore, +4.4% versus FY25.
Bullish all tests passed, or all but one · Bearish half the tests or fewer passed · Neutral in between.
49
Automated screen flags
2 strength(s) · 3 weakness(es)
Neutral
Strengths: Company has reduced debt; Company has been maintaining a healthy dividend payout of 20.2%. Weaknesses: Stock is trading at 2.54 times its book value; The company has delivered a poor sales growth of 11.7% over past five years; Company has a low return on equity of 6.22% over last 3 years. (Flags generated by the data source’s rule screen.)
How to read: Information only.
50
Fundamental summary
11 bullish · 6 bearish · 32 neutral · 0 caution
Bullish
On the numbers published by 10 Jul 2026 the fundamental picture leaned positive. Valuation: P/E 41.9×, P/B 2.59×. This describes the data, not a recommendation. How to read the score: the strongest possible reading is 49 bullish · 0 bearish, and the weakest is 0 bullish · 49 bearish. Most companies land in between. The numbers are called positive when bullish tags beat bearish ones by 4 or more and are at least 1.5 times as many, negative the other way round, and mixed otherwise. Even a 49–0 score describes the past and is not a reason to buy, and a 0–49 score is not a reason to sell.
Bullish bullish tags beat bearish ones by 4 or more and are at least 1.5× as many (“positive”) · Bearish the same the other way round (“negative”) · Neutral (“mixed”) otherwise. Strongest possible: 49 bullish · 0 bearish.
News in the three months before the snapshot
Company news from 10 Apr 2026 – 10 Jul 2026 that an investor could have known on the snapshot date.
04 May 2026Exide Industries Q4 FY26 standalone PAT rises to Rs 312 crore; Rs 2 final dividend recommended — Standalone Q4 FY26 revenue was Rs 4,551 crore (up 9.4% YoY) and PAT Rs 312 crore versus Rs 255 crore a year earlier. The board recommended a Rs 2 per share final dividend with a July 3, 2026 record date. source
27 May 2026Exide Industries shares rise for third straight session — Shares traded near Rs 390 midday on NSE, up for a third consecutive session and about 9.6% over the past month. source
30 May 2026Exide Industries sets record date for FY26 final dividend — The company fixed July 3, 2026 as the record date for its FY2025-26 final dividend, payable electronically with tax deducted at source. source
16 Jun 2026Exide annual report: lithium-ion investment reaches Rs 4,802 crore — FY26 standalone revenue rose about 4.1% to Rs 17,269 crore with PAT of Rs 1,111 crore. The company injected a further Rs 1,500 crore into subsidiary Exide Energy Solutions, taking total lithium-ion equity investment to Rs 4,802 crore. source
02 Jul 2026Exide Industries shares up about 7% intraday — Shares traded near Rs 417.85 on NSE around midday, up about 7% and extending a three-session gain. source
10 Jul 2026Exide AGM approves Rs 2 final dividend — Shareholders at the AGM approved a final dividend of Rs 2 per share (200% of face value) for FY26 and the re-appointment of Manoj Kumar Agarwal as Director-Finance and CFO. source
What happened next (10 Jul 2026 → 13 Oct 2026)
Price went from ₹424.40 to ₹395.00 by 13 Oct 2026 (-6.9%) while the Nifty 50 moved -6.1% — underperforming by 0.8 points.
Highest ₹496.40 on 11 Aug 2026; lowest ₹390.40 on 13 Oct 2026.
S1 413.85: broken on a closing basis on 09 Sep 2026.
S2 378.32: held on a closing basis.
R1 428.43: cleared on a closing basis on 17 Jul 2026.
200-day SMA: price was above it at the snapshot and stayed on the same side through the period.
Apr–Jun 2026 results (reported 30 Jul 2026): revenue ₹5,528 crore (+17.7% YoY), net profit ₹351 crore (+27.6% YoY), operating margin 11% vs 11% a year earlier (Screener consolidated figures).
Later news
30 Jul 2026Exide Industries Q1 FY27: standalone revenue up 17.6%, profit up 27.1% — The board approved Q1 FY27 results on July 30, 2026; standalone revenue from operations was Rs 5,305 crore and PAT Rs 407 crore. Shares hit a 52-week high intraday that day. source
04 Aug 2026Exide approves Rs 1,400 crore FY27 capex — The board approved Rs 1,400 crore of capital expenditure for FY27 to complete Phase 1 of the 6 GWh lithium-ion cell facility. source
16 Sep 2026Exide signs partnership with Germany's ExCom Energy Solutions — Exide and ExCom Energy Solutions GmbH signed a long-term partnership on September 15, 2026 to sell industrial batteries and energy storage systems in the European Economic Area under the ExCom brand. source
24 Sep 2026Exide Energy Solutions commissions Phase I of 6 GWh lithium-ion cell plant — Subsidiary Exide Energy Solutions completed commissioning of Phase I of its 6 GWh lithium-ion cell plant in Devanahalli, Bengaluru, on September 23, 2026. source
29 Sep 2026Exide invests further Rs 100 crore in Exide Energy Solutions; Q2 board meeting set — Exide invested another Rs 100 crore in Exide Energy Solutions, taking cumulative investment to Rs 5,202 crore, and scheduled a board meeting on November 4, 2026 for Q2 FY27 results. source
Educational summary. On 10 Jul 2026 the technical picture leaned positive and the fundamental picture leaned positive. Over the next three months the stock moved -6.9% against -6.1% for the Nifty 50. Here the chart's message did not line up neatly with what followed — a reminder that indicators describe the past, not the future. One case proves nothing on its own; the value is in seeing many cases over time. This page does not say whether to buy, sell or hold Exide Industries today.
Method designed by Pawan Kumar Sharma, CPA · ACCA · CIA. Numbers are computed by our engine from the sources listed below.
Sources: daily prices — Yahoo Finance history pages; financials and shareholding — Screener.in (fetched 14 Oct 2026); index — Nifty 50 via Yahoo Finance; news — linked articles. Calculations by Manage Our Finance. Report a correction
More case studies today
₹2,067.80close 10 Jul
Fertilisers & crop protectionNSE: COROMANDELData as of 10 Jul 2026