ACC has witnessed a decent erosion from the 2850 zone and is consolidating near the 2250 level and forming a higher bottom formation, trading above the 20 DMA level of 2332. A decisive move past the 200 DMA level of 2400–2450 levels shall be anticipated for further rise, with 2600 and 2800 levels visible as the next higher targets. The RSI has corrected well from the overbought zone to arrive near the oversold area and indicates a trend reversal to signal a buy with much upside potential visible from the current rate. We suggest buying now & in decline for an upside target of 2800, keeping the stop loss of 2200.
The Relative Strength Index (RSI) has corrected from the overbought zone, nearing the oversold area, indicating a possible trend reversal. This signals a buy opportunity with substantial upside potential from the current rate.
Recommendation:
- Buy now and on dips, targeting 2800.
- Stop Loss: 2200
The stock’s movement suggests strong potential for gains, and the technical indicators support a positive outlook for the near future.
