ACC Share price: Buy near Rs 1800 with a stop-loss of Rs 1720 and target of Rs 1900-Rs 1950 | Technical and Fundamental Analysis explained here
Sumeet Bagadia, Executive Director, Research at Choice Broking says tha ACC should be bought near Rs 1800 with a stop loss of Rs 1720 and target of Rs 1900 – Rs 1950. On a daily Chart, stock has been trading in Rising Wedge formation and tested the Upper Bollinger band formation which suggests that some correction can be seen for the near term. Furthermore, the stock has confirmed the Shooting Star candlestick pattern which is a reversal pattern suggesting downside in the counter.
Jefferies maintains buy rating on ACC with a price target of Rs 2200. ACC's volume decline in last quarter is negative although commissioning of new capacity in the east implies this is only a short-term issue: Reuters