REC LTD Share Tips, Technical Analysis Chart, Intraday Stock Trading Graph Advice - Stock facing strong support at current levels, its 50% fibonacci retracement and 200 DMA, this will favor bulls. (Updated For 18th August 2014, Monday).

REC LTD

• As per previous report published on REC LTD, stock failed to take its 38.2% fibonacci retracement support around 297, and  has shown further weakness and stock made a low of 276.50. (Click here to see past report published on REC LTD).
• Now daily chart indicates stock is currently facing 50%  fibonacci retracement support at current levels and stock gave a small bullish candle , this indicates as long as stock holds above its support around 276.50, it will be favored by bulls , but once stock closes below 276.50 and stays below then further weakness is expecing in REC LTD and stock will find next strong support around 250 its golden ratio - 61.8%  fibonacci retracement as shown in graph no 1.
• Suggested Reading - NEYVELI LIGNITE major indicator RSI is moving in over sold zone, stock can bounce back.
• Chart also indicates that stock is facing 200 days moving average support zone, as long as holds above stock can see some buying , but if close below then bears can get active one again.
• If stock moves up from current levels then on upper side will find strong fibonacci retracement resistance around 301, 317, 330 and 342 as shown in graph no 3. Close Watch.
• Click here to see all the free trading reports (tips) published by us on REC Ltd.
• Stock tips for tomorrow.