April 08, 2016
ACC Ltd (NSE Cash)
1430 - 1440
14 - 21 sessions
Source: Falcon (Chart Time: 09:17 IST)
The stock had seen a sharp rally in last month and has reached around its crucial resistance of
levels. If we meticulously analyse the daily chart, we are observing a formation of a Bearish Harmonic Pattern
called ‘Bearish Nen Star’. The Potential Reversal Zone (PRZ) of the mentioned pattern is placed at
1433 levels. From last two sessions, the stock is resisting around the PRZ levels and formed a ‘Harami’
pattern in yesterday’s session. Formation of such candlestick pattern around the resistance zone may be a
trigger for a reversal (though it should get confirmed on closing basis). The ‘RSI’ oscillator is also showing
negative divergence on daily chart, indicating reversal on cards. Looking at above technical evidences,
are advised to sell the stock at current levels and on rise to
1440 for a target of
1345. The stop loss for the
trade set-up can be kept at
April 08, 2016
Last 9 recommendations
Recom. Buying/Selling Range
1445 - 1430
342 - 339
550 - 554
380 - 383
62.70 - 62
550 - 547
505 - 502
Exited at 511
861 - 857
823 - 815
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website:
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