Technical Pick – ACC
•ACC is finding support at 1775 and resistance above 1830.
•On Daily chart, ACC is showing breakout point above 1830.Break and sustain above 1830 will see nonstop rally in ACC till 1885--1928++ in weeks to come.
• ACC has been trading in a broader range of 1257--1837 for last one year.
• ACC trading above 21 and below 55 days moving average which is at 1724 and 1660 respectively.
MACD showing positive momentum which indicates that upside side seems certain in it.
• Traders don’t go for aggressive or positional selling at all because trend looks positive and we expect rally to remain continue till 1885--1928+++mark in coming weeks. For positional trade, stop loss seeing below 1775 on closing basis which in unlikely to breach in near terms.
Trading Recommendation
Buy ACC above 1830 and for the initial upside target of 1885—1928++ mark with stop loss below 1775 on closing basis.
More will update soon!!
