What's the future of Future Group stocks? Here's what technical charts say

Market participants should avoid bottom fishing at the these counters and wait for a fresh trend to emerge.

Shares of debt-ridden Future Group companies continue to remain laggards in the broader market space. Recently, Reliance Industries had to call-off its deal to acquire Future Retail businesses amid the Amazaon-Future group tussle. The said news accentuated the selling pressure at these counter.
 

Future Retail in particular has been locked in lower circuit since April 22, 2022, with share price tumbling a whopping 42 per cent during the period. The stock has lost 65 per cent in the current year to date. Other shares like Future Consumer, Future Enterprises, Future Supply Chain and Future Lifestyle Fashions also witnessed similar fall.

Going ahead, here’s an outlook for the Future Group stocks basis on the technical charts.

Future Retail Limited (FRETAIL)

Outlook: Stay sideline

The price action shows a negative bias for the stock which has been in lower circuit since last few sessions. Only a decisive move above Rs 30 may show an emergence of a positive sentiment. Until then, it is wise to stay on the sidelines and avoid bottom fishing.  CLICK HERE FOR THE CHART

Future Consumer Limited (FCONSUMER)

Outlook: Avoid

The stock fell gravely once it breached the recent reversal mark of Rs 4.40 level. This move was supported by robust volume signalling more downside. Only a move above Rs 6 could change the negative/ bearish bias.  At present, the stock falls in “avoid” category for market participants, according to the daily chart. CLICK HERE FOR THE CHART

Future Lifestyle Fashions Limited (FLFL) 

Outlook: One should not venture into identifying the bottom

The daily chart clearly shows the breakdown below the Rs 45 support. And as long as the stock trades under it, the negative bias is here to stay. Moreover, it violated the following support of Rs 30 and trades below it. One should not venture into identifying the bottom and take a huge risk, shows the daily chart. CLICK HERE FOR THE CHART

Future Enterprises Limited (FEL) 

Outlook: Stock needs to overcome Rs 7 mark to regain a positive stand

Simultaneous gap downs have dismantled the upside bias totally, as per the daily chart. The stock needs to overcome Rs 7 mark to regain a positive stand if any left there. At current scenario, it is best to stay away from such stocks, as displays by weekly and daily charts. CLICK HERE FOR THE CHART

Future Supply Chain Solutions Limited (FSC) 

Outlook: Underneath trend is not so exciting

To stay afloat, the stock needs to cross Rs 45 and Rs 55 with aggressively volume, shows the daily chart. The present scenario seems to indicate sideways movement, the underneath trend is also not so exciting. CLICK HERE FOR THE CHART