Jun 15, 2012, 10.33 AM | Source: CNBC-TV18
Sudarshan Sukhani of s2analytics.com feels that ACC can test Rs 1300.
Sudarshan Sukhani (more)
Technical Analyst, s2analytics.com | Capital Expertise: Equity - Technical
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."
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