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Weekly future recommendation:

ACC is expected to see a recovery from the recent low of Rs1460 on the back of closure of short positions. The stock seems to be consolidating above Rs 1450. It may start witnessing short covering if it remains near current levels. However, delivery activity has picked up near Rs 1480, which remains an immediate support. The December series is starting with a higher OI base since June 2019, which has a major short bias. However, looking at its positioning near support we may see a short covering trend.

Recommendation

Buy ACC Ltd @ 1515-1525 SL 1455 Target 1625

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