Monday, 1 December 2014

Travel and Retail sector jumped, UK Market ended flat.


A slight recovery in oil prices wasn't enough to ease the pressure on the energy sector on Friday, though stocks in London erased losses by the end of trade as shares in the travel and retail sectors jumped. London's FTSE 100, which hit a low of 6,667.08 in morning trade, finished more or less flat, falling just 0.01%to 6,722.62. The FTSE fell during most of the week, but found enough support near the 6675 level to turn things back . It is expected that market will go to 6900 level, which proving to be major resistance level with the support of 6400 level.

TOP GAINER
Name
Close Price
Change %
Carnival
2820
4.56
Kingfisher
312
3.41
Dly Mail & Gen Tst A
842
3.31
Vodafone Group
233.95
2.9
Imperial Tobacco
2960
2.46

TOP LOSER

Name
Close Price
Change %
Bg Group
902.4
-8.55
Bhp Billiton
1517
-3.19
Anglo American
1321.5
-2.26
Smith Group
1157
-2.12
Rolls-Royce Hldgs
842.5
-2.03


Drax Group Plc Ord

Technical Chart

RECOMMENDATION BUY
TARGET 652
The major trend of Drax Group Plc is bearish but it is showing strenght for upside and from last few trading it is not managing to sustain at lower level and closing with positive bias.For upcoming session stock looking strong on charts and facing resistance from 200 DMA crossing of it i.e. 612 show the level of 652 with stop loss of 599.

CHART FORMATION:-
Stock has looking strong on charts and forming flag pattern crossing of the neckline can give the target of pole.
It's trading above the 50 DMA and facing resistance from 200 DMA crossing of it can show upside movement.

INDICATORS:-
RSI is trading above the 50 level and showing consolidation , crossing of 60 level it can test the level of 70.
Macd & Signal line is trading above Zero level line with positive bias.