Seems that ACC has completed Wave 2 on upside. The retracement is not a wave 2 typical retracement, the retracement currently is only 38.2%.
ACC shall be a sell below TL1 (Rs. 836), which shall lead to a cup and handle structure, with a price target of Rs. 789, from the lip of cup at 836. This is bearish setup. THe stock has given a negative crossover of 3 major EMAs (5,13, 34) and is coupled with a drop in ATR. As mentioned in previous post in Reliance, a low in ATR generally marks a change in trend. A break above 863 shall be bullish for the stock and break below 836 shall be bearish.
ACC EOD Chart Wave Count
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