ACC Elliott Wave, Impulse wave, Ending Diagonal

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 ACC daily chart

From the above daily chart of ACC, prices are moving in a higher highs and higher lows which clearly indicates that the trend is firmly positive.

However, prices are moving in a distribution pattern which is known as rising wedge pattern. The pattern is accompanied by negative divergence in RSI indicating halt in positive momentum. 

From Waves perspective, the stock is moving in an ending diagonal pattern which arrives in wave v. Thus opening the possibility of correction. Prices are set to dive in coming trading sessions near about 1640.

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Classroom training and webinars both are available. If you reside in Mumbai, classroom training is conducted in Vile Parle near station and Borivli Station. For inquiry and registration call +919324174580.


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