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Mild bargain hunting in the ACC counter saw the stock stabilising around Rs 750 last week. But the recovery lacks conviction. Momentum oscillators are still in oversold zone but have not reversed yet. Resistances for the stock are at Rs 816 and then at Rs 868. The stock needs to move above Rs 868 to make the short-term outlook positive.

An intermediate term reversal will be signalled only on a rise past Rs 955. This stock is in a long-term down trend. Wait for a close above Rs 868 before contemplating trading longs.

Lokeshwarri S. K.

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