Tuesday, 3 February 2015

FTSE Overview as on Tuesday, February 03 2015


UK stocks recover from lower levels and closed higher after a choppy session as oil stocks gain. Manufacturing purchasing managers' indices (PMIs) from across the globe came in mixed, with growth picking up in the UK.
The FTSE 100 close at 6782.55, up 0.5% on the day after swinging between gains and losses.
The Index has recovered from lower level of the day and ended in positive note. If during the day market is breaching the resistance level of 6850 on upside after consolidation, then it can test the level of 6940 with the support of 6780.

TOP GAINER
Name
Close Price
Change %
BG Group
934.2
5.33
Sainsbury
267.3
4.66
Antofagasta
672
3.38
BP
437.7
3.12
BHP Billiton
1484
2.84

TOP LOSER

Name
Close Price
Change %
Carnival
2921
2.54
United Utilities GR
1001
2.53
Wolseley
3770
2.38
Kingfisher
335.1
2.25
Severn Trent
2106
2.14


Stock Pick of the day : BG GroupPlc



RECOMMENDATION BUY
TARGET 965
The Major trend of BG Group Plc is Consolidating in higher levels and it is showing strength and reversal from lower levels on charts and we can see upside movement in it. Stock is trading near its resistance of 935. One can initiate the long position in the stock if it breaks the level of 940 it can show upside movement for the target of 965 with the stop loss of 920.

CHART FORMATION:-
Stock is consolidating on higher level and showing sign for reversal movement in it. Crossing the resistance will lead to upside movement. Stock is trading above the 50 DMA with positive bias.

INDICATORS:-
RSI is trading near to 60 level with positive bias, in upcoming session upside movement is expected.
MACD and Signal line is sustaining above the zero level line.