Trading strategy for RIL, Future Retail, Future Consumer, Future Lifestyle

The deal between the retail arm of RIL and Future Group has brought back focus on the related stocks. Here are the key levels track before you make an investment in these stocks

Reliance Industries Ltd (RELIANCE): This counter needs to decisively conquer Rs 2,200 levels to enter the next leg of the up move. Once conquered, a major rally may be expected towards Rs 2,350 and then Rs 2,390 levels. The current momentum indicates sideways move with technical indicators showing notning exciting on the charts. The support stays at Rs 2,100 levels on the closing basis. CLICK HERE FOR THE CHART

               

Future Retail Limited (FRETAIL): With the recent surge in volumes, the counter has managed to cut through the resistance of Rs 137 and is set to move towards Rs 199, which is its 200-day moving average (DMA) levels, as per the daily chart. The immediate support comes at Rs 115.20, which is its 50-(DMA). The trend looks optimistic as Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) supports the up move. CLICK HERE FOR THE CHART

 

Future Consumer Limited (FCONSUMER): As the counter trades between the 50-DMA and 100-DMA in the range of Rs 12.10 to Rs 10.50 levels, any move beyond this range should determine the next course of action. At the current levels, the MACD is indicating a positive bias with a crossover and a move towards the zero line. Volumes have seen an increase in the recent sessions, which is a positive sign. CLICK HERE FOR THE CHART

 

Future Lifestyle Fashions Limited (FLFL): After successfully conquering the 100-DMA at Rs 134 levels, the stock is gradually rising towards the higher highs. This move is accompanied by the RSI and MACD; both are indicating a firm strength and an upward direction with their respective signals. The immediate resistance comes at Rs 170 levels, where the counter looks to be headed. CLICK HERE FOR THE CHART

 

Future Enterprises Limited (FEL): The weekly chart indicates a resistance and a moving average breakout. The stock has decisively managed to conquer 50-weekly moving average (WMA) with absorbing the selling pressure around Rs 19 levels. This strength has opened doors for the stock to hit Rs 25 levels in the sessions ahead. The MACD is attempting to cross the zero line with strong volumes - a signals of underlying strength that can possibly take the stock higher.  CLICK HERE FOR THE CHART

 

Future Supply Chain Solutions Limited (FSC): As the counter has moved out of the tight range of Rs 157 to Rs 140 levels, which are its 50-DMA and 100-DMAs. The upside potential has received a boost with firm volumes. A consolidation breakout indicates a positive rally towards Rs 175 levels in the sessions ahead. CLICK HERE FOR THE CHART