ACC expecting wave E up for triangle formation ACC expecting wave E up for triangle formation
moving inside the channel and if breaks and gives a strong closing above
middle line of the channel than expecting to move p.
it has support zone 2220-2150
and today it bounced from the support zone and done wave D
and now expecting it to move for wave E formation
towards 2340--2375 in short term.
Disclaimer : I am not SEBI registered.
ACC
07 Insightful approaches to learning cup & handle pattern ⭕ Price Action chart pattern similarity !!!⭕
Ranges candles shows the phase of accumulation or distribution It helps trader to track bearishness and bullishness of the chart, in this phase accumulation can be seen because of bull Bo.
There is so many ways to approach chart patterns, everyone has different approaches and different insights.
Some Examples of Cup & Handle pattern we have seen:-
1)
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4)
5)
6)
POST Your Findings in comment section any other stocks with some pattern you observed we can discuss as a community there !!! Happy To Learn here in TRADINGVIEW with charts
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ACC Support & Resistance levelsSupport and resistance levels: Key price points
where the stock tends to bounce or face selling
pressure.
Trend lines: To identify the overall direction of the
stock over the medium term.
Moving averages: Such as 50-period and 200-
period moving averages on the 4h timeframe.
Technical indicators: RSI, MACD, or other
indicators that traders use for analysis.
Chart patterns: Any recognizable patterns forming
over multiple 4-hour
ACC - Breakout loading?Price Observation & overview:
1. W stricture formed, overall bullish.
2. Good volume breakout will be needed to ensure buying strength to continue else will avoid any entry.
3. As of now no entry, I will keep it in radar and set an alert for breakout.
- Stay tuned for further insights, updates and trade safely!
- If you liked the analysis, don't forget to leave a comment and boost the post. Happy trading!
Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Please, do your due diligence before investing.
Thanks & Regards,
Anubrata Ray
All Time High PossibilityIf the price can sustain above 2675 then its in blue sky territory of ATH.
Given that the overall market condition is also at highs, keeping only a 1:1.5 expectation.
Strict SL and also trail along.
--- --- ---
Good trades become good memories;
bad trades become good lessons.
- Yvan Byeajee
ACC | Swing Trade📊 Details
ACC Limited (incorporated in 1936), a member of the Adani Group, is principally engaged in the business of manufacturing and selling of Cement and Ready Mix Concrete. The Company has manufacturing facilities across India and caters mainly to the domestic market.
Disclaimer: This analysis is solely for educational purposes and does not make me a SEBI registered analyst.
If you found this analysis helpful, I encourage you to like and share it. Your observations and comments are also welcomed below. Your support, likes, follows, and comments motivate me to consistently share valuable insights with you.
🔍 More Analysis & Trade Setups 🔍
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ACC formed Bearish Marubozu on 1DNSE:ACC ACC Limited (Formerly The Associated Cement Companies Limited) an Indian cement producer, headquartered in Mumbai. It is a subsidiary of Ambuja Cements and a part of the Adani Group. On 1 September 2006, the name of The Associated Cement Companies Limited was changed to ACC Limited. The company was established in Mumbai, Maharashtra on 1 August 1936.
ACC formed Bearish Marubozu and gave closing below it.
Entry : 2024.5
Target : 1913
SL : 2106
RR : 1.36
Cement Stocks in DANGER!🩸Attached: Custom Cement Index/ Nifty 50 Daily Chart as of 21st April 2023
(Note: The above Chart is my Custom Cement Index made up of all the F&O Cement Stocks and this is the Ratio/ Relative Strength Chart version of it, against Index Nifty 50. This gives us an idea of the Relative Strength of the Cement Stocks and used to find out whether they are likely to Outperform or Underperform.)
Observations as follows:
Price based:
- A Clear Double Top Breakdown on the Ratio Chart with Break of Support accompanied by Bearish Power Candles!🩸
- The Ratio was in a Down Trend prior to the Range that formed. Presently the Ratio has rejected from the High of the Range and can head to the Low of the Range
- If you Zoom Out on this Chart or go to the Weekly TF, a Bear Flag/ Wedge Pattern is also visible
Indicator based:
- Daily RSI is now in Oversold (below 30) territory indicating a Strong Bear
- Daily MACD which was already in Sell has crossed below the 0 line
- DMI is in Sell and ADX may start to turn up
All the above Observations signal that the Cement Stock Basket is likely to Underperform🐻/ are Potential Short Candidates📉 !
Some names that have Short Setups are: ACC, AMBUJACEM (already shared in my Related Ideas), ULTRACEMCO, GRASIM, JKCEMENT
ACC ltd technical analysis 1W chart, Short term With cement stocks trading near upper trend line which makes the sector to be more promising in the short term. ACC ltd being one of Adani's which will be having high speculation and stock have undergone huge correction of 35% from ATH.
ACC stock has a high potential for short term as the stock is trading at same price as of 8 years back. The stock has a good swing high of 60% and 40% swing low from the current price.
Buy ->1600-1650
Sell -> 2400-2800(12-15months)
Stop loss -> 1400-1450