My upper side and reversal view on NSE:ACC
Best level to take entry is 2237 with stop loss of 2195. My target will be 2395 & 2342.
Note: This is my personal analysis, only for learning.
Thanks.
Acc has closed just near its crucial resistances.
If the stock crosses 2160 it will cross its 200ema, resistance zone and and will change the trend from bearish to bullish.
On daily chart, it seems bullish and can touch 2200.
Wait for the price to cross 2160 and sustain.
This trade can become a swing trade if closes above 2160.
as we can see the price has retested its ATH and it was trending in an ascending wedge, where at the Squeeze Section we are observing Bearish Divergence with MACD, which is the sign of trend reversal and probably some retracement of the same bullish trend.
this divergence can act as Hidden Bullish Divergence if the Price break it current Resistance zone in Red...
