Market Trading Guide: Canara Bank, SBI Card among 6 stock recommendations for Monday – Trading Guide
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Target Price: Rs 2,700
Stop Loss: Rs 2,250
ACC appears to be following its 30-day harmonic cycle. According to the cycle analysis, the security halted its downward move on September 3rd. From September 4th onward, buying activity has increased, with subsequent days showing continued buying and rising volume, indicating strong buyer interest.
The upward movement is further supported by the Fisher Transform, which showed a crossover on September 3rd. Additionally, the Rate of Change (ROC) is trading above the zero line, supporting the price action. The ROC has also broken out of a rising trend line, signaling an increase in momentum.
(Kunal Kamble, Sr. Technical Research Analyst, Bonanza Portfolio)
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