MARKET
OVERVIEW
Far
weaker than expected data on the US housing markets proved to be the
proverbial straw that broke the camel's back on Friday, setting off
another round of selling in stocks and commodities ahead of next
week's US Federal Reserve policy meeting
The
FTSE 100 ended the day in red by 75.20 points at 6579.81 But if
during the day market breaches the support level of 6550 on the
downside after consolidation, then it can test the level of 6500 and
the immediate resistance level is 6600
RELX PLC GROUP
RECOMMENDATION SELL
TARGET 1085
The Major trend of RELX PLC it
is showing strength for selling .If it breaks the support level then
one can initiate the selling position in the stock. If it breaks the
level of 1096 then it can test support level for the target of 1085
with the stop loss of 1106
CHART FORMATION:-
Stock is trading in a range and
trading near the trendline. Breaking the support line will lead to
downside movement. Stock is trading below the 50 DMA with negetive
bias.
INDICATORS:-
RSI is trading near to 38.22
level with negetive bias, in upcoming session downside movement is
expected.
MACD
and Signal line is sustaining below the zero level line.
