ACC LTD Analysis ON 23 Dec 2023 (Mid Term view)
Fundamentally strong stock with less debt
and high FII holding
keep strict stoploss - 1800 (on closing basis)
target 2250
2450
2650
2800
ACC already follow a uptrend .
Resistance Zone : 2720.40 - 2785.10
After breakout of this range we can see a good move of 2900.
Support 1: 2628
Support 2: 2559.75
Don't take any position on short side for now.
Scenario will be happen:
price maybe side base near 2720-2559 and after the take a breakout.
The stock has been forming a cup and handle pattern and has amazing fudamentals , it can yield great returns in near future the immediate target for the stock is 3786
As per weekly chart layout, short term hurdel are 2680 and 2770, keep this stock in radar, as this stock in bullish trend, on the day of price action this stock can go for 2800 and 2900 level in the coming week, call options of 2800 and 2900 of Feb And Mar expiry can be watched closely.
All detail for chat. good entry at mark price only. and must stoploss minimum risk and good profit. risk ratio 1:1 in first target. This is not call, Just my idea. Please understand your risk and take full responsibility of your actions
SL 1hr candle close only, Target Trigger Price
If 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.
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Good trades become good memories;
bad trades become good lessons.
- Yvan Byeajee
Reason for long
a) pole and flag breakout
b) If nifty support and sustain at higher levels. then this stock may hit all time high in feb month
c) Most cement sector is trending up
d) SL compulsory
f) Fundas okay
e) QQE is in super breakout mode
Ambuja Cements Limited (50%) is the holding Company of ACC Ltd and LafargeHolcim Ltd is the Parent company for the Group.
ACC and Ambuja cement together have 12-13% capacity share in the Indian cement market.
Fib- After a sharp rise the counter is now taking support at 38.2% from a higher zone. This is extremely bullish.
RSI- the oscillator has taken the support above the bull range both on the 1hr chart and 22 min chart. This is very positive. On the 4he chart it is taking support above the bear range of 60-65 thats again positive.
MA- on the 22 min chart three...
ACC at reasonable price., few levels below to trigger. Accumulate in small parts for a better reward to risk. Follow risk management, and #stocks diversification.
#Why I'm taking this trade?
On the daily chart smart money forming falling wedge chart pattern, but break out is not happened. So if you are a breakout trader you can wait for the breakout, but I have already taken the trade as I expect the breakout to be on the upside and I am very bullish on this stock also because bullish divergence is forming on daily and...
