Stock of the Week (25th – 29th July ’11)

Stock for the next week is ACC. It is looking strong on charts as it is being consolidating with positive biasness from last many trading sessions. It is currently trading above its 10 days and 50 days moving average with 56.18 RSI in daily charts. If it manages to sustain above the level of 995, we may expect an up rally in the stock, one could go for long position in the stock above 998 for the targets of 1020/1040 with strict Stop Loss at 970.