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Technical lead on ACC

For the first time, I’ve decided I’ll share my analysis on a stock. Please note: these are my observations, you are welcome to go along with it , but on your own discretion, I undertake no liability.


ACC

CMP- 1387.40, target price- 1530, stoploss- 1355. 

Below is the daily chart ACC cement which seems like it could rise from the Friday’s closing of 1387.40 to a good 1530 in the coming days.

The evidences behind such observations are:

1. RSI has bounced from 30 and is headed higher

2. Good volumes on the previous day 

3. RSI stochastic has recently crossed over the 30 zone and is heading higher, which is a thumps up.

Keeping it precise. Follow up for more stocks and Nifty view for the coming week.

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