ACC Ltd : Looking for break out of 1400
By Oscar Salza
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
₹1,368.75 | ₹1,580 | ₹1,370 | +15.43% |
The financial situation is strong with a positive cash flow. The price earnings ratio shows a company valued correctly. The operating margin could rise for the next two years, according Thomson Reuters’ estimates.
Technically the share is in upward trend. This trend has been stopped by mid-term resistance of INR 1391. If the share breaks out this level, it could reach new highs. We suggest to take a long position at INR 1400 in order also to take benefit from bullish momentum of Indian Stock Exchange. A stop loss will be placed at INR 1370.