Sell ACC Fut above Rs 1315: IIFL

According to IIFL, traders can sell ACC Future above Rs 1315 with stop loss of Rs 1330 for a possible target of Rs 1285, in its February 5, 2013 research report.
 
"ACC has confirmed major trend reversal after formation of bearish pattern in yesterday's trade as prices failed to sustain above the support of its 200-DMA. Lower high and lower low pattern in daily RSI also suggests weakness in the stock. After trading sideways for last one week, it broke below its 200-DMA. Inability for the stock to sustain above its critical moving average has seriously dampened any hopes of a legitimate recovery. (Duration 5 days)," says IIFL research report.

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