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ACC Ltd | Bullish Reversal Setup with Strong Confluence
Overview:
This idea highlights a potential bullish reversal setup for ACC Ltd (NSE) based on technical confluences observed in the daily time frame. The stock is currently approaching a key Demand Zone and is showing signs of a potential breakout.
Key Observations:
Demand Zone / Order Block:
The green zone (₹1,900–₹2,050) marks a significant demand area where price is expected to find strong buying support. This is aligned with the previous consolidation period and order block theory.
Price Retest:
The price is retesting this demand zone, creating a potential low-risk entry point for buyers.
Change of Character (CoCh):
A structural shift is evident, with a "W" pattern forming. This pattern indicates accumulation and potential reversal from bearish to bullish momentum.
RSI Divergence (1H Time Frame):
Bullish RSI divergence is visible in lower time frames, confirming weakening bearish momentum and possible price reversal.
Price Imbalance Filled:
The imbalance area has been fully resolved, reducing downward pressure. This increases the likelihood of a bounce from the demand zone.
Descending Channel:
The stock is currently trading within a descending channel. A breakout above the upper boundary of the channel could signal a continuation of the bullish move.
Projected Scenarios:
Bullish Scenario:
If the price holds the demand zone and breaks out above the descending channel, potential targets are:
Target 1: ₹2,400 (near-term resistance).
Target 2: ₹2,800 (upper trendline resistance).
Target 3: ₹3,000+ (long-term resistance zone).
Bearish Scenario:
If the price fails to hold the demand zone, it could revisit the lower levels near ₹1,800 or ₹1,700 for another accumulation phase.
Trade Setup:
Entry: ₹1,950–₹2,050 (Demand Zone).
Stop-Loss: ₹1,890 (below the demand zone).
Targets:
T1: ₹2,400
T2: ₹2,800
T3: ₹3,000
Risk-Reward Ratio: 1:3 or better.
Confluence Factors:
Strong support at the demand zone.
Bullish RSI divergence in lower time frames.
Structural breakout potential (CoCh and "W" pattern).
Full price imbalance resolved, reducing selling pressure.
This idea highlights a potential bullish reversal setup for ACC Ltd (NSE) based on technical confluences observed in the daily time frame. The stock is currently approaching a key Demand Zone and is showing signs of a potential breakout.
Key Observations:
Demand Zone / Order Block:
The green zone (₹1,900–₹2,050) marks a significant demand area where price is expected to find strong buying support. This is aligned with the previous consolidation period and order block theory.
Price Retest:
The price is retesting this demand zone, creating a potential low-risk entry point for buyers.
Change of Character (CoCh):
A structural shift is evident, with a "W" pattern forming. This pattern indicates accumulation and potential reversal from bearish to bullish momentum.
RSI Divergence (1H Time Frame):
Bullish RSI divergence is visible in lower time frames, confirming weakening bearish momentum and possible price reversal.
Price Imbalance Filled:
The imbalance area has been fully resolved, reducing downward pressure. This increases the likelihood of a bounce from the demand zone.
Descending Channel:
The stock is currently trading within a descending channel. A breakout above the upper boundary of the channel could signal a continuation of the bullish move.
Projected Scenarios:
Bullish Scenario:
If the price holds the demand zone and breaks out above the descending channel, potential targets are:
Target 1: ₹2,400 (near-term resistance).
Target 2: ₹2,800 (upper trendline resistance).
Target 3: ₹3,000+ (long-term resistance zone).
Bearish Scenario:
If the price fails to hold the demand zone, it could revisit the lower levels near ₹1,800 or ₹1,700 for another accumulation phase.
Trade Setup:
Entry: ₹1,950–₹2,050 (Demand Zone).
Stop-Loss: ₹1,890 (below the demand zone).
Targets:
T1: ₹2,400
T2: ₹2,800
T3: ₹3,000
Risk-Reward Ratio: 1:3 or better.
Confluence Factors:
Strong support at the demand zone.
Bullish RSI divergence in lower time frames.
Structural breakout potential (CoCh and "W" pattern).
Full price imbalance resolved, reducing selling pressure.
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