ACC Ltd – Stock Review (Neutral)
ACC Ltd gave a small rally from 940 level, however prices failed to sustain above resistance level of 1216. From last few days, prices are range bound and has been moving in a range of 1101 to 1206. Even today, the stock witnessed selling from its resistance trend line & closed just below it. The overall trend for ACC Ltd still...
Stock has been moving in a range of 1150-1300. Over the last few trading session there has been a sharp rise in volumes which shows some positive signs in the short term. Stock has been seen to take resistance near 1284. We expect prices to remain neutral and stay within a range of 1220-1290.
Nifty ended its two day wining streak on Friday mainly after the news that Franklin Templeton mutual fund would close down its 6 debt schemes. This created a panic among the investors amid concerns of an upcoming economic slow down. The selling was led by the top financials- HDFC twins, ICICI Bank, Bajaj Finance.
Nifty witnessed selling near 9300, which has...
