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There was no abatement in the slide in ACC and it achieved our target of Rs 842. If it does not halt around Rs 840, the C wave will unfold with all its ferocity.

And it will take the stock price to the next target of Rs 667.

The long-term picture has deteriorated significantly in this stock and the move from the low of May 2003 seems to have ended at the December 2006 peak.

However, long-term support exists at Rs 872 and then Rs 787 where the stock can try to stabilise.

Lokeshwarri S. K.

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