ACC Ltd. is currently showing a Triple Bottom formation on the weekly chart, indicating strong support around the ₹1810 - ₹1793 level . This pattern suggests that bearish pressure is weakening and a potential reversal is on the cards.
🔍 Key Technical Highlights:
Triple Bottom: The stock has tested the same support zone three times without breaking down, which is a classic bullish reversal signal.
Price Action: Current price is near the support base, offering a favorable risk-reward entry zone.
RSI: Weekly RSI shows signs of reverse sell divergence, hinting at a potential shift in momentum.
📈 Strategy:
This is a swing trading idea based on weekly chart structure. Entry is planned near the current level with a stop-loss slightly below the support zone. I plan to use pyramiding to add positions if momentum continues after breakout above neckline resistance.
⚠️ Disclaimer:
This analysis is for educational and informational purposes only. It is not intended as investment advice or a recommendation to buy or sell any securities. I am not a SEBI-registered advisor. Please do your own research and consult with a registered financial advisor before making any investment decisions. Trading and investing involve significant risk.
Note
Correction: This is a swing trading idea based on 1 day chart structure.
Sameer Thorappa
Network Engineer transitioning into the world of investing. Passionate about swing trading, price action, and technical & fundamental analysis.
Network Engineer transitioning into the world of investing. Passionate about swing trading, price action, and technical & fundamental analysis.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Sameer Thorappa
Network Engineer transitioning into the world of investing. Passionate about swing trading, price action, and technical & fundamental analysis.
Network Engineer transitioning into the world of investing. Passionate about swing trading, price action, and technical & fundamental analysis.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.