ACC arrived in short zone... its not trading tip... do your own analysis before taking any action.
My view is
Entry price >>1530-45 short zone and Stoploss 1551.. target 1400
Lets see where it goes.
At Support Zone.
Potential Harmonic Pattern Gartley In Process...
Other Details Mentioned In Chart.
Positional View For Educational Purpose Only.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.
It is forming a W pattern on daily level. Also already broke out from daily trend line. One can enter above 1520 with confirmation on 10 mins and we can see 1540/1550 on cards on intra-day.
There is a buy on monthly time frame, however weekly remains neutral. On daily chart, since past 3 days price didn't move to take out resistance levels of 1509.10 and 1525.00 in one go. Price rise was sluggish just to take out key resistance level of 1509.10 yesterday.
This scenario has a high probability of being a bull-trap.
Go short below 1509.10 with stop...
here it is showing bullish shark pattern which may complete and its prz is 1434-1451.
And if we find any reversal candlestick pattern there, we can go for buy positional.
There is also support just below the PRZ.
ACC Limited is engaged in manufacturing of cement and ready mixed concrete. The Company's segments include Cement and Ready Mix Concrete. The Company manufactures cement, which includes Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), Portland Slag Cement (PSC) and Ready Mixed Concrete (RMX). The Company's products include portland cement and premium cements, bulk cement. The Company's products also include ACC-Supercrete, ACC-Flowcrete, ACC-Speedcrete, ACC-Imprintcrete, ACC-Jet-setcrete, ACC-Coolcrete, ACC-Feathercrete and ACC-Fibrecrete. The Company has approximately 20 cement factories, more than 50 ready mixed concrete plants, a distribution network of over 9,000 dealers and a range of sales offices. ACC-Speedcrete is available in two variants for quick road solutions: UTWT 24 and UTWT 8. UTWT 24 is used to build roads, which can be thrown open to traffic within 24 hours and UTWT 8 is used for road repair works wherein roads can be opened to traffic within 8 hrs.
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ACC
