REC LTD
- As per previous report published on REC LTD, stock shown sharp weakness after breaking its support level @ 276.50, and so far stock made a low @ 267. (Click here to see previous report on REC LTD).
- Now daily chart indicates that stock has closes below its 50% fibonacci retracement support zone, this indicates weakness in REC. If holds below then stock can see weakness till 250 its golden ratio support as shown in chart no1.
- Suggested Reading - HCL TECHNOLOGIES moving in up channel formation, will favor bulls once closes above its trend line resistance.
- Chart no2 , indicates that stock is now trading below its 200 day moving average, this is a major sign of weakness as 200 DMA pays an important role in technical analysis. As long as stock trades below it will be favored by bears. Stock must closes above 200 DMA for bulls to get active once again.
- As per chart no3, stock major trend indicator "MACD" is moving in -ve zone and below level zero this signifies that REC can see further weakness, but stock other indicator RSI is now entered in oversold zone, close watch this is a sign of caution.
- Click here to see all the free trading reports (tips) published by us on REC Ltd.
- NSE intraday tips.
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