UK equities recovered

London stocks gains after the retail sector outweighed falls from energy stocks on Monday, as UK equities recovered strongly after their worst weekly performance so far this year. The economic data calendar was relatively quiet on Monday, as the focus remains on the upcoming Federal Reserve decision and UK Budget on Wednesday

The FTSE 100 index ended the session up by 0.94% to 6804.08, after dropping 2.5 % last week. If during the day market is breaching the support level of 6760 on downside after consolidation, then it can test the level of 6700 with the resistance of 6810.

RECOMMENDATION SELL

TARGET 420

The Major trend of Dixons Carphone Plc is sideways and it is showing strength for selling . If it moves below the support level then one can initiate the short position in the stock. If it breaks the level of 425 then it can show downside movement for the target of 420 with the stop loss of 429.

CHART FORMATION:-

Stock is trading near its support and sustaining below that trendline is indicating selling in the chart. Crossing the trendline will lead to downside movement. Stock is trading below the 50 and 200 DMA with negative bias.

INDICATORS:-

RSI is trading near to 49.65 level with negative bias, in upcoming session downside movement is expected.

MACD and Signal line is sustaining below the zero level line.

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