ACC LTD
- As per previous report published on ACC LTD, stock gave a false breakout after breaking its resistance @ 1545, stock closed above 1545 and after that made a high around 1565 and again came down. (Click here to see previous report published on ACC LTD).
- Now as per current stock analysis chart no1, stock is facing strong trend line resistance around 1565, this indicates as long as stock trades below bears can get active, but once ACC closes above 1565 and holds above then bull will have strong hands once again in ACC and stock can move up further for few trading days.
- Intraday trading tips - Close watch once stock starts trading above 1565, if holds above 1565 during Indian stock market hours then intraday bulls action is expecting.
- As per graph no2, ACC is holding above 20 days moving average , as long as stock holds above 20 DMA bulls will ve favored ,but once ACC close below 20 DMA stock will show first sign of weakness.
- Suggested Reading - WIPRO has formed head and shoulder formation, will favor bull once breaks its pattern on upperside.
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- As per chart no3, stock major trend indicator "MACD" is moving in +ve zone and also above level zero, as long a MACD positive this will show ACC can see some higher price. If ACC moves up from current levels then stock will find next strong resistance around 1625 its 161.8% fibonacci retracement, close watch.
- Click here to see all the free trading reports (tips) published by us on ACC LTD.
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