FUTURES RETAIL LIMITED
- As per previous report published on FRL stock failed to break it support @ 117, and witnessed small bull rally and stock made a high around 131. (Click here to see previous report published on FRL).
- Current technical chart no1 of FRL indicates that stock has formed descending triangle formation, It generally indicates weakness, If stock breaks it formation on down side then we can see some weakness and stock will test its next support. As indicates in graph no1, stock continuously coming down from its trend line resistance, this time too its coming down from 131 levels as show above.
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- Graph no2 indicates that stock is facing 100 DMA support , as long as holds above bulls will be favored , but once stock closes below 100 DMA then bears will get active and we can see some price fall in FLR. Close Watch on FRL support @ 117.
- Suggested Reading - ABAN OFFSHORE stuck in small range bound zone, sharp move expecting when it comes out.
- As per graph no3, stock major trend indicator like "MACD" and "Stochastic Oscillator" is moving in -ve zone, this indicates that we can see some price fall as long as they are in -ve zone, Close watch once stock closes below 117 and stays below then stock will be bears grip for next few trading days. And on down side will find support around 110 and 87.50.
- Intraday Stock Tips - close watch once FRL starts trading below 117 during market hours then intraday bearish action is expecting.
- Monthly chart indicates that stock has formed "Doji" in FRL, usually Doji indicates chances of change in trend and sharp movement in coming days. Close Watch as doji has appeared we may see come sharp movement in coming days in FRL.
- Click here to see all the free trading reports (tips) published by us on FRL.
- Intraday trading tips for tomorrow.