ACC (500410) : As per our market expectation that market is looking weak . I came out with list of stock which are the weakest stock for this big rally that we witnessed. I ran this test on what i call as External Relative Strenth Index (ERSA). It showed me the list of top 15 Laggards for the top traded counter.
| Security Name | ERS | 5 dy ago | 21 d ago | 60 d ago | 125 ago | 250 ago |
| SATYAM COMPUTER | 0 | 0 | 1 | 0 | 0 | 8 |
| RELIANCE COMMUNI | 1 | 2 | 5 | 4 | 16 | 14 |
| SUZLON ENERGY | 2 | 1 | 0 | 2 | 0 | 5 |
| BHARTI AIRTEL LIMITED | 3 | 3 | 21 | 24 | 67 | 65 |
| MAHANAGAR TELEPH | 4 | 4 | 7 | 46 | 37 | 27 |
| RELIANCE CAPITAL | 5 | 5 | 2 | 20 | 13 | 45 |
| MOSER BAER (I) | 6 | 8 | 6 | 9 | 6 | 21 |
| VSNL | 7 | 9 | 24 | 16 | 87 | 93 |
| GRASIM INDS | 9 | 16 | 74 | 89 | 39 | 36 |
| SUN PHARMACEUTIC | 10 | 7 | 3 | 10 | 69 | 99 |
| AMBUJA CEMENT | 11 | 10 | 41 | 29 | 47 | 43 |
| NATL ALUM – NEW | 12 | 12 | 13 | 13 | 17 | 97 |
| HIND LEVER | 13 | 14 | 15 | 59 | 64 | 94 |
| ABB | 14 | 13 | 10 | 18 | 14 | 30 |
| ACC LTD | 15 | 15 | 64 | 74 | 68 | 52 |
In this list , ACC caught my eyes and when looked at the chart pattern, it showed what we have conventinally studied the head and shoulder pattern. The breach of neckline is already done. The stock is stopping at 200Day WMA. As per the head and shoulder count the target comes around 595-585. So look out for any close below 760 it can easily pull ACC to our target level.
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