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ACC has made a decisive move past the intermediate-term resistance band indicated last week. The near term targets are Rs 1,136 and then Rs 1,174. Hold the stock with a stop at Rs 1,020. Dips can be used to initiate fresh positions for the short-term with the same stop.

Investors can hold the stock with a deeper stop at Rs 1,000. If the move since June 2006 low of Rs 761 is the resumption of the long-term up move, then the stock can move towards Rs 1,600. However, long-term investors should wait for a correction or a prolonged sideways move to initiate fresh buys.

Lokeshwarri S. K.

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