ACC:
Acc is trading very close to bottom of red price
channel. Trend line support exists at 1110 and MA support exists at 1101. Break of Psychological level of 1100 will bring in more weakness and
price will follow newly formed BLUE price channel in that case which means more
steep fall as angle of price channel is very steep. Target for this setup is 1053.
On the Other hand break of blue channel will be first sign
of strength buy above 1140 for
target of 1154 and 1165.
Ambuja Cement:
It is trading below the support line connecting lows from
OCT 2008. Price is trading near bottom of price channel and trend line support
zone of 161-62; below which next
major support exist at 154. On
upside 169-70 will act as Resistance. Close above it will be first sign of strength
target 173, 175 & 178
Please note if long trade is triggered in any of the counter;
please trade with strict sl as larger time frame trend is down.
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