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Lokeshwarri S. K.

ACC reversed from an intra-week low of Rs 952 and attained our upper target of Rs 1,000.

A short-term reversal was seen last week, as the price bounced off its 50-day moving average. This move has short-term resistance at Rs 1,014. If the price reverses from this resistance, the consolidation in the zone between Rs 1,020 and Rs 950 will prolong for a few more weeks. A breakout above Rs 1,014 will make the price head towards Rs 1,030 and then Rs 1,078. Hold your longs with a stop at Rs 945.

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