- ACC Cement is forming a reversal pattern.
- This pattern is ADAM & EVEN Pattern.
- For any pattern formation there neckline plays very important role because that level decides that the pattern is going to play out or not.
- Will Buy once it closes above the highlighted zone which is neckline and breakout confirmation.
- TARGET = Height of ADAM from neckline.
-...
Writing it quickly as it's in live market. 75 min TF has a nice divergence at Daily Support shown by the green arrow. Also, price breaks TL giving me poisitive feel about NSE:ACC . Though, there's nothing in Weekly and Monthly to support.
In 15 mins also, there is TL break and support break with big green candle with EMA rejection. A hammer is also formed....
ACC can reverse from the zone as shown on chart. Avoid the shorting if it goes above this level. If it does return from the PRZ then fall can be good but for short period consider the best target as per swing.
