Jun 15, 2012, 10.33 AM IST | Source: CNBC-TV18

ACC can test Rs 1300, says Sukhani

Sudarshan Sukhani of s2analytics.com feels that ACC can test Rs 1300.

Sudarshan Sukhani of s2analytics.com feels that ACC can test Rs 1300.

Sukhani told CNBC-TV18, "We bought ACC earlier also. It has an excellent chart. It’s fallen. It makes these perfect chart patterns. It’s just a tendency of that particular stock. It’s made a beautiful small bullish head and shoulder and it’s broken out of that. That tells us that their correction is over."

He further added, "It’s probably going to test Rs 1,300 highs, but obviously for a day trader that’s not the target. We have much more modest levels in mind. But the trade is on the long side. It’s a good trade to be in ACC and although not discussed today Ambuja."

"I was very upbeat on Century , Bombay Dyeing and Raymond . The other two are still there, but Century has completely turned around and as traders we have to be flexible. If the market says I don’t like it, we don’t like it either. Century has been a short sell earlier also."

"This stock doesn’t seem to be stopping anywhere. There is no support. It’s simply giving us a waterfall decline. We have heard some reasons why this is so, but whatever the fundamental reasons, the charts are very, very poor for Century. It’s a short sell even in a rising market."

Set email alert for

ADS BY GOOGLE

Buy & sell politicians on Power Play
- the political stock exchange

Price Update

Rahul Gandhi

570.54 7.41 1.32%

340799

Bought today

361318

Sold today

0.81%

User holding

video of the day

Add cyclicals, banks on positive poll outcome: UBS

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.