Cement News

ACC Share Price: BIG BREAKOUT! Experts unveil this strategy to mint money


ACC share price has recently made a monthly breakout by sustaining above Rs 1850. ACC share price history suggests that cement stock price has been moving up to Rs 1925 odd levels and then came down to around Rs 1875 mark. According to stock market experts, ACC share price has made a big breakout by sustaining above Rs 1850 and one can buy ACC shares at current levels of Rs 1915 for the target price of up to Rs 2100 in next one month.

Speaking on the reasons that will fuel ACC share price, Avinash Gorakshkar, Head of Research at Profitmart Securities said, “After budget 2021, focussing upon the infrastructure sector, cement market outlook is quite promising. When it comes to ACC, it’s an MNC company which has a presence across India. So, in the coming times, ACC business is expected to remain strong as infrastructure push will certainly get converted into the high volume growth of the company. Apart from this, cement prices are also expected to rise and the company will benefit from that also.”

Gorakshkar said that ACC is a good share to buy at current levels. Also its quarterly results are expected to boost its share price anywhere between Rs 200 to Rs 250 post-quarterly result announcement.

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Sharing important levels involved in ACC shares, Rohit Singre, Senior Technical Research Analyst at LKP Securities said, “ACC share price has made a strong monthly breakout and one can buy at current levels for the immediate target of Rs 2,000 and then one can hold it for the next target of Rs 2,100. However, one must maintain the stop-loss at Rs 1850 while taking a buying position in this counter.”

On how much time ACC shares will take to scale up to Rs 2100 from current levels, Singre said that it will take around one month to reach up to Rs 2100 mark.


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