ACC Limited (NSE: ACC)

Short-term/Mid-term Sentiment: Bullish

Even though daily chart of ACC Limited looks somewhat bearish, but in mid-term time period, this stock looks bullish. The reasons are

• Price is going higher in a narrow range without dropping much to lo lower side
• Price has found proper support between 475- 515 area
• It has pierced the upper Bollinger band and trying to stay near upper BB
• RSI (14) is 60 which means strength is strong
• Currently this is trading above EMA (50) and EMA (20) which shows bullish trend in mid-term period

Keeping these above technical points in view, if you think this stock won’t go further down, then this could be a good time to buy near Rs 600 when stock pulls back a little during intraday session with stop/loss just below 550 and target1 near 640-700.