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A lackadaisical movement was observed on ACC last week. Short-term resistances for the stock are at Rs 816 and then Rs 868. Inability to surpass these levels will keep the short-term outlook weak. The intermediate-term trend will turn positive only if the stock moves above Rs 955.

Long-term investors can take heart from the fact that the stock price is halting near important long-term support area that exists around Rs 800. But, it would be prudent to wait for firm signs of reversal before initiating fresh buys.

Lokeshwarri S. K.

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