ACC Limited seems to be Dicey a bit and may Fall Soon 20/02/2021
Updated
as we can see the price has retested its ATH and it was trending in an ascending wedge, where at the Squeeze Section we are observing Bearish Divergence with MACD, which is the sign of trend reversal and probably some retracement of the same bullish trend.
this divergence can act as Hidden Bullish Divergence if the Price break it current Resistance zone in Red Box and its ATH, and the Bullish target can be 2080 easily.
the other scenario of Bearish trend reversal we can target the Support zones up to the Green box where i have mentioned the Heavy Support Zone, we can have 61.8% level as a good target in case of trend fall.
we can short it in any bullish pullback and ride it to the next Support area and trill our SL accordingly above the Support which turns to resistance.
we should have a good eye on NIFTY for better trend prediction on this ticker.
please comment your opinions...
this divergence can act as Hidden Bullish Divergence if the Price break it current Resistance zone in Red Box and its ATH, and the Bullish target can be 2080 easily.
the other scenario of Bearish trend reversal we can target the Support zones up to the Green box where i have mentioned the Heavy Support Zone, we can have 61.8% level as a good target in case of trend fall.
we can short it in any bullish pullback and ride it to the next Support area and trill our SL accordingly above the Support which turns to resistance.
we should have a good eye on NIFTY for better trend prediction on this ticker.
please comment your opinions...
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