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ACC made an intra week high at Rs 895 and reversed decisively from there. The immediate supports for the stock are present at Rs 802 and then Rs 791.

A bounce from Rs 790 will be good opportunity to buy with a short-term perspective. Though the medium term outlook stays positive till the stock stays above Rs 766, inability to move past Rs 900 is trifle worrisome. It points towards the continuation of the down move that began from December 2006 peak of Rs 1,192. Investors should make fresh purchases only if the stock closes beyond Rs 900.

Lokeshwarri S. K.

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