• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

ACC recorded yet another positive weekly close last week. The weekly chart looks like a steep green slope from the beginning of August 2006. Our first target of Rs 1,002 was almost achieved when the stock hit a high of Rs 999.9 on Friday. The price is moving in an upward moving trend channel since the low of Rs 677 made in June 2006.

Projecting this channel gives us the medium term target of Rs 1,050. The upper target this week falls at Rs 1,011 and then at Rs 1,031. Hold on to your long positions with a stop at Rs 964. Fresh buying can be done for trading purpose with the same stop.

Lokeshwarri S. K.

More Stories on : Technical Analysis | Technical Analysis

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Investment Quiz

Copyright © 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line