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The stock could not move past the resistance that exists at Rs 1,100, as indicated last week. The 50-day moving average present at Rs 1,072 will act as an important short-term resistance for this stock. The short-term outlook for ACC continues to be weak. It can move lower to Rs 991 and then Rs 951.

The immediate support for this stock exists at Rs 1,020. Resistance for the week would be available at Rs 1,075 and then from Rs 1,125. Hold the stock with a stop at Rs 1,015. Fresh longs should be initiated only above Rs 1,080.

Lokeshwarri S. K.

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