Achin Goel
On the daily chart, ACC formed an engulfing pattern which suggests waning bearishness among the traders. The stock price has formed a double bottom around Rs 1,265 and moved up a bit.
In addition, positive divergence is visible in the momentum indicator RSI (14) on the daily chart. Traders can accumulate the stock in the range of Rs 1,310-1,316 for the target of Rs 1,450 and a stop loss below Rs 1,249.
Disclaimer: The author is Head of Wealth Management and Financial Planning, Bonanza Portfolio Ltd. The views and investment tips expressed by investment experts on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
