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The price of ACC is halting at the 61.8 per cent retracement of its fall from May 2 highs. Rs 900 is a very important resistance level for this stock. A breakout from this level can take the price to Rs 985.

The weekly candlestick chart of ACC show a bullish engulfing candle followed by three white soldiers. This is a bullish formation and can precede an upward breakout to Rs 985.

The immediate supports for this stock lie at Rs 853 and then at Rs 809.

Fresh longs can be initiated in this counter as long as the price stays above Rs 850.

Lokeshwarri S.K.

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