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Published on 15/07/2019 4:11:42 PM | Source: Choice Broking Pvt Ltd

Buy Acc Ltd For The Target Rs.1700 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #ACC Ltd #Cement Sector #Trading Report #Choice Broking

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* On a daily chart, the stock has formed a Double Bottom formation which is a Bullish Reversal formation and suggests a northward movement in the counter.

* Moreover, the stock has formed a Bullish Engulfing Candlestick with the support of 200 Days Moving Average which indicates an upside move in the counter.

* Apart from this, the stock has given a breakout of its Downward Slopping Trend line which shows a Bullish Reversal movement in the counter.

* A daily momentum indicator RSI reading is at 54.48 level with a positive crossover which points out for a positive breath in the counter.

* Based on the above technical structure, we are expecting a good upside movement in the counter in a few trading sessions.

Recommendation

Buy ACC Limited @1591.80-1599.80 Stoploss 1550 Target 1700

 

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