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Piyush-Gupta
Nov 5, 2020 5:03 PM

ACC, DOES THIS CEMENT STOCK HAS STEAM LEFT? (CHART# 352) Long

ACC LTDNSE

Description

ACC has formed beautiful Ascending triangle pattern and has closed near to breakout level.
1700 is another physiological level once crossed can fuel some movement.
Third factor for movement is long term resistance zone around 1706-1709 which was respected multiple times between Apr to Sept 19 time period.
Breakout above 1707-1709 can show some good momentum by this stock.

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Thanks
Piyush Gupta
Comments
Vittal_L_Saravanan
excellent.. thanks
stockkar
piyush sir this can also fly similar to glenmark
Piyush-Gupta
@vivekprcs, yeah as long as this bull run continue, most of stocks are flying. Its best to find bullish patterns and then play on them along with trend.
SairamParamasivam
@Piyush-Gupta as Good one sir as usual ..
Shivam178
Nice setup
Aniketyourtechnicalanalyser
sir what is your current advise?currently it's near to 2% fall.
Piyush-Gupta
@Aniketyourtechnicalanalyser, this is invalidated as pattern didnt work.
But 1707-09 resistance zone still hold good and if broken can give us move.
Piyush-Gupta
Typo on chart : Pink resistance line is from Apr-Sept 2019 period not 2018.
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