ACC Limited (ACC) Stock - Complete Technical Analysis - Nov 08, 2024

ACC Stock Analysis: Key Support, Resistance & Momentum for Traders TechnicalAnalysis ACC

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. For ACC Limited, technical analysis reveals a moderately bearish outlook. The stock price at 2291 is close to key support levels, with RSI indicating the stock is not oversold or overbought, which could mean a pause in the downward momentum. A weak ADX shows a lack of a strong trend direction, which aligns with the recent sideways movement. MACD is negative, suggesting potential continuation of downward pressure, while the Awesome Oscillator also shows weakness, indicating low momentum.

Moving averages signal a bearish outlook in the short term, with EMAs below their long-term counterparts. The 10-day SMA at 2317 and 20-day SMA at 2297 suggest immediate resistance, while the 200-day SMA at 2492 represents a major hurdle if the stock attempts an upward move. Fibonacci levels highlight significant resistance around 2469 and 2674, which will be key to watch. Support levels include the 2165 and 2010 zones. These zones may offer a safety net if prices drop further. Traders should watch for volume surges, as an increase in volume near support or resistance levels could hint at a possible breakout or trend reversal.