ACC trade ideas
ACC cement near a breakout.Acc has closed just near its crucial resistances.
If the stock crosses 2160 it will cross its 200ema, resistance zone and and will change the trend from bearish to bullish.
On daily chart, it seems bullish and can touch 2200.
Wait for the price to cross 2160 and sustain.
This trade can become a swing trade if closes above 2160.
ACCNSE:ACC
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ACC: monthly part 1Here ,
Trend discussion :
major Trend of Price is Uptrend
intermediate Trend is downward
price has just broken intermediate Trendline. And the price moves upwards.
parallels channel :
Price has created access twice.
From which it can be inferred that after breaking the channel, the demand has such an effect that the price comes back into the channel.
Seeing this opportunity, buyers are active and the price goes up more and more.
Reflection point: is the point at which demand is raised to meet the supply.
or
which demand is raised to meet the supply
If these points occur outside the channel it is called access ! it gives power to upcoming Move.
Right now on taking price is on the Gravitation line.
The price has broken the intermediate Line but the candle has not Closed out !
so we will wait for it ..
Fibonacci :
all time High of price is 1869.95.
all time low is 84
Price has crossed extreme level which is 61.8% which indicates strong bullish Trend. and price often respected 50% Level.
we can take entry when candle cross above Gravitation line
ACC ReversalThe stock has reached lower trendline and may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 3:1
SL is placed below support zone & the lower trendline. The target is placed near resistance.
Market is bearish, so take positions carefully.
SELL ACC AROUND 2250 TGT 2100/2000 SL ABOVE 2392The cement sector enjoyed low prices for coal but now as the prices are moving higher and the poor growth seen in ultracemco results is creating a problem for whole sector. We can expect a small correction in the same for resuming the uptrend again in overall sector