FUTURES RETAIL LIMITED
- As per chart no1, FRL has formed descending triangle formation in daily chart, this indicates when stock comes our from its formation then sharp move is expecting in FRL. Close Watch once stock closes below 117 and stays below then stock to get further weak for next 1-2 trading days.
- Intraday close watch once stock starts trading below 117, if stays below in day trading then intraday wekness is expecting.
- Suggested Reading - TATA MOTORS has made a gap up open , stock to favor bulls.
- Daily chart also indicates that stock will also test its 100 days moving average , as long as stock trades above it will favor bulls. But once closes below then bears will get active and stock to see further weakness, as shown in graph no2. Close Watch.
- As per chart no3 FRL major trend indicator like MACD and stochastic oscillator is now moving in -ve zone, this indicates stock will favor bears. And if stock falls from current levels then will find strong support around 117, 110 and 87.50, as shown above. Close Watch.
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