Financial Technologies can see short covering

Financial Technologies has corrected from 1200 to 800 odd levels which is almost 33% correction. The stock has fallen in corrective waves.



                                                   Financial Technologies Daily chart

The daily charts shows over sold zone for the entity. The RSI and MACD shows the oversold levels. Can the short covering of 8 - 10% to be expected on the stock in coming sessions.

                              Financial Technologies Fibonacci retracements on Daily Chart

The Fibonacci retracements of 61.8% of a rally is around 800 levels. Last trading session stock has made a low of 802.70 and a bounce back can be expected on the counter from current levels.

Financial Technologies Weekly chart

The weekly charts also confirming the support zone to 800 odd levels. So 790 - 800 can act as as strong support area wherein from there 8 - 10% move on stock can be expected on the verge of short covering rally towards 870 - 880 odd levels. 

The break down below 790 in worst case scenario can take the further downside towards 7 _ _ and 6 _ _.

To know more about probable counts contact us back of http://fortunfin.com/contact-us.

Disclaimer: This is just an view based on the research of individual. So kindly trade along with the consultation of your financial adviser, market trends, price action and own risk appetite considered while investing or trading in stock markets.