Exide can decline towards levels of 110-115: Mitesh Thacker

In a chat with ET Now, Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, shares his views on various stocks.

ET Now: What is your call on Exide?

Ashwani Gujral: Exide has stride fairly hard to get past 140 levels but it has failed today. Probably results were also not to exciting here. Below 125, this stock gets into a bit of a trouble zone and could decline towards levels of 110 to about 115. However, these stocks once they correct 70%-80% given the 'market share' etc. around 110-115 Exide has bottomed out several times. So, longer term investors should look at this sort of midcaps which are down quite a bit to accumulate at lower levels. Whenever things pick up, something like Exide could go up easily 50% from levels of 110.