Wednesday, 7 February 2018

STOCK FUTURE CALL FOR 08 FEB 2018


sell ACC below 1600 TGT 1570/1540 SL 1650

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ACC, after showing correction from the higher level, it is forming continuation pattern in short-term charts, it is likely to continue the negative movement with the breakout of the pattern at the PIVOT levels of 1600 ; as the stock is managing to trade below its 22,50 and 200 days moving averages with the RSI of 30, one may expect the targets of 1570/1540 in the stock if it manages to sustain below the immediate resistance  level of 1620. 200 EMA is seen as a strong resistance level of 1650. Strong support is seen at 1580.
DAILY CHART FOR ACC