Friday, 7 November 2014

UK stock market at a glance


MARKET OVERVIEW
 

The London stock market was more or less flat by Thursday lunchtime, erasing earlier losses after a well-received update from Morrison's boosted shares in the retail sector.
However, upside was being limited ahead of a number of risk events expected before the weekend, including a European Central Bank (ECB) monetary policy decision and the all-important US non-farm payrolls report.London's FTSE 100 was just 0.1% lower at 6,533 by midday, with investors pausing for breath after a 1.3%gain the previous sessions.RSI is also trading above 50 level and index is giving closing above 50 DMA & 200 DMA with positive bias . For upcoming session it is looking strong and crossing of 6600 it can test the level 6900 with the 6400.


TOP GAINER
Name
Close Price
Change %
Sainsbury
262.2
6.03
Morrison Suppermkts
172.18
6.02
Marks& Spencers
470.4
5.92
Tesco Plc
181.5
3.27
Standard Chartered
960
2.56


TOP LOSER

Name
Close Price
Change %
Rsa Insur Grp
460.1
-4.96
Tate & Lyle
598.5
-1.72
Glaxosmithkline
1413.5
-1.57
Smith & Nephew
1053
-1.4
Enterprise Inns
129.5
-1.15


  FTSE Stock Pick of the day : Fresnillo Plc





RECOMMENDATION BUY
TARGET 740
The primary trend of Fresnillo Plc is bearish but it has shown recovery from bottom and manages to trade above with support of 50 DMA .Stock is showing strength in buying from last few trading session and trading with positive bias.One can initiates the long position in the stock after crossing of falling trend line at 702 it can test the level of 740 with the stop loss of 680.
 
CHART FORMATION:-
Stock is showing consolidation and showed recovery from bottom, one can go with strategy buying from bottom.
Stock is sustaining above 50 DMA and crossing of the resistance level and crossing 200 Dma can show further upside movement
 
INDICATORS:-
RSI is trading near to the level of 50 and showing consolidation , Breaching of the resistance level can manage to test the level of 70.
In ADX , Positive DI is placed above negative which is indicating strength for buying.
Macd & Signal line is about to give break out above Zero level line which is indicating strength in the stock.