ACC has target of Rs 804-805: Anu Jain

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ACC has target of Rs 804-805: Anu Jain

ACC has target of Rs 804-805, says Anu Jain, Vice President-IIFL Private Wealth Management at India Infoline.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Anu Jain See what other Experts & Brokerages are saying about ACC See messages about ACC ACC BSE | NSE 10/02/12 Are Mutual Funds betting on ACC?

ACC has target of Rs 804-805, says Anu Jain , Vice President-IIFL Private Wealth Management at India Infoline.

Jain told CNBC-TV18, "ACC is been one of the stock, which has been languishing for sometime and it has consolidated at the lower end of the band that it has been and the fact remains that despite the market being quite weak last week, we saw that this stock was not giving up and there is strengthen building into it. So I think that this has got some potential to pullback not probably to the highs that it made sometime back but probably given the chart patterns, which it just languishing between the low those levels of about Rs 770-774, it's attempting those levels."

She further added, "Once it crosses Rs 774, the next resistance comes only about Rs 804-805 which I am giving as the target. So its not yet one of the stronger charts when you see the market but this is one sector which is probably showing that bottoming out has happen and probably there is definitely a 4-5% trading margin at least left to be made into it."