
FRL has broken all its support and the correction is likely to continue in the stock.
On 21st June 2013 FRL fell sharply by over 25% from its post de-merger opening price with all time record volume of 4,41,80,669 (Chart above).
This was the highest single day volume for FRL in last 12 years, We have noticed when a stock falls with record volumes it keeps on correcting, Refer to chart below (HDIL)

As you can see above in the chart of HDIL, it fell sharply with record volumes from about 100 to 75 on 24st January 2013, Post that it has been correcting and has reached Rs 35 today, We expect a similar move in FRL.