ACC Cement continue to bearish trend further more.

10 בנוב׳ 2016

ACC Cements trading in dwon trend for several months, it seems to be setting stage for trend reversal, it has retraced to crucial fibo 61% level and from a bullish hammer but unable to breakout it is testing down trend channel resistance., risky traders can enter further short at CMP, conservative traders may enter short when it retest 1490.00 resistance again with small stop loss. alternatively if breakout occurs it will target around 1643.00 first and next target 1720.00 to its former resistance.