Monday, March 4, 2013



Being a Major Cement gaint in entire whole cement sector, stock is dripping down from its highs of 1545.35 levels for almost 4 months. Stock acted like finding support at 1200 levels which is the channel bottom for intermediate.

Short Term:

Stock is heading towards its 61.8% retracement 1085. Short the stock @ CMP or on every raise till 1300 to see 1085 with Strict SL at 1320.

Long Term:

Stock was correcting for almost 4 months which shows the weakness in the stock. Lets wait and see if it can find a strong support at 61.8% Fibonacci levels at around 1085. Probabl 1050 also could act as support. It is always wise to enter a stock after confirmation of up move.So for now, Lets see more lower levels and wait for entry after confirmation only.

1 comment:

  1. If ACC traded positive next week then Go long at current levels itself. ACC made a double bottom at around 1200 levels.If stock makes some progress go long on it.Breaking these levels my continue dripping down as given earlier.