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ACC hit an intra-week high of Rs 1,025 before consolidating in a narrow band. The short-term trend reversal seen from the low of Rs 950 is still in force. We expect the stock to move higher to Rs 1,032 and then Rs 1,060 in the short term. Watch out for some profit booking as the stock nears its previous all time high at Rs 1,060.

The positive outlook for the short term will continue till the price stays above Rs 980. Traders can hold their long positions with a stop at Rs 980. Position traders can keep a deeper stop at Rs 945.

Lokeshwarri S.K.

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