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.
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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