Simple Trade Setup | ACC | 16-08-2021NSE:ACC
Observations:
1) On Daily Time Frame it has closed below 21DMA on 13-08-2021. Since last 3 days it has been failing to close above 21DMA.
Please refer Chart below:
2) Another interesting thing is that in Option Chain data major short covering was seen at 2400 call option for August expiry.
3) It has taken support from 2250 level two times.
4) On 15min time frame, it has made lower lows in price while in RSI it made higher lows. This is the sign of bullish divergence. If on 16-08-2021 it sustain in range till 2290 or above and RSI is takes support from that trendline and maintain above it then it will be a quick buy trade.
However if it breaks the RSI trendline then the bearish trend will continue.
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Trade Setup:
1) If 2300 level will work as good support zone then we can see another upside move.But a safe Buy trade entry should be above 2320 level breakout immediate target 2330.
2) But if it fails to hold 2300 level and breakdown below and continue to take resistance from 2300 level then it will be a down fall.
3) Also if it breaks down 50MA and at the same time RSI breaks down the trendline then it will be short trade.
4) All the levels will work as support, resitance, entry and tareget w.r.t to price action near to that level.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Accltd
What next in ACC ? Still up move or retracement? NSE:ACC
ACC was on super up move today on 20-07-2021.
If this up move continue then next target to watch in coming days will be 2400. But a retracement or Consolidation is required. May be it will go to below level to check the demand/support as there will come a profit booking in coming days. But ACC looks strong in coming days to go up.
Keep ACC on your radar and levels are mentioned on it. You can enter from any level in the way it moves.
ACC perfectly followed Fibonacci levels and Technical levels.NSE:ACC
Look how ACC perfectly followed Technical and Fibonacci levels.
First on 15-07-2021,
It went to check demand in range of 2067-2069. And got good supply from there (marked with black circle in Candle Chart).
And after that we can see big green candle, which broke trend line in Candle chart (Marked with blue arrow in Candle Chart) and at the same time it also brake the Bearish Divergence ( Red Line in RSI) trend line. Breakout Point is marked with Blue Arrow in RSI. This shows the breakout and the trend to go bullish.
And as mentioned in chart in my previous post about ACC making bearish divergence, we can only get sell opportunity in ACC if it trades below 2066. So there was no trade to sell ACC on 15-07-2021.
Now Today, 16-07-2021
It closed above our Target 1 as per Fibonacci level. So now the next target to watch in ACC is 2160 as per Fibonacci levels. You can take positional trade.
Hope this helps you to understand the analysis of technical aspect for trading.
Comment below if my Ideas are helping you to understand the analysis.
Also comment your suggestion or doubts.
All the best for trading in next week. Have a good weekend.
Can you guess the Divergence in ACC ? NSE:ACC
Today, 14-07-2021, it has formed a BearishDivergence.
So far ACC has maintained good support from 2014.7 and changed the trend from the sideways to uptrend.
Now it is trading above the trendline and taking support on it. Trader can only buy above 2090 levels with target of 2115 & 2158 .
But there will surely come a correction to check support from 2065-2070.
Due to Bearing Divergence formed today, Selling opportunity will come below 2066 levels.
Green lines are Fib levels for the target if you short/sell it below 2066. But a strong closing and with stock trading below 2066 for few minutes is needed to be in a safe short side trade. Be quick in taking out profit on Intraday.
All the best.
If any doubts/suggestions, do comment below.
ACC Target.NSE:ACC
ACC has maintained good support from 2013.40 and changed the trend from the sideways to uptrend.
Now it is treding above the trendline and taking support on it.
Trader can only buy above 2090 levels with target of 2115 & 2158.
But there will surely come a correction to check support from 2065-2070.
ACC - ASCENDING TRIANGLEAn ascending triangle is a clear cut indication of consolidation followed by a breakout. A BIG BREAKOUT...........
Note:
Avoid the stock if a big gap up or gap down is seen
Enter after the breakout happens and not before it
Do not chase the market, i.e., do not get involved in late entries
Only enter with strict stop-loss and target
This is not a recommendation and is for educational purposes only.
always follow risk-reward and quantity management for the 100% of the times
The above mentioned idea may not work, so beware of the risk you are taking
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Happy Trading!!
Hidden Bullish Divergence in ACC Limited - Positional BuyHidden Bullish Divergence observed in daily charts & stock is trading near support levels of 1385 levels. It is having strong support near 1338.
Stock may move downwards as markets are correcting, eventually stock is likely to trend upwards to 1425+ levels.
Positional Buy ACC @CMP of 1385
Target - 1425, 1450, SL-1338