Tuesday, 17 February 2015

London Stock Market Update Tuesday, February 17 2015


London stocks finished with a small negative bias as traders waited to see whether the Eurozone's finance ministers, which began their weekly meeting in the afternoon, were able to reach an agreement that would allow Greece to avert a financial crisis.
The FTSE 100 ended the day lower by 16.47 points to 6857.05. If during the day market is breaching the resistance level of 6890 on upside after consolidation, then it can test the level of 6960 with the support of 6840.


TOP GAINER
Name
Close Price
Change %
Tate & Lyle
577
3.41
Antofagasta
750
2.6
Sabmiller
3523.5
1.91
Anglo American
1220.5
1.33
BHP Billiton
1589
1.27

TOP LOSER

Name
Close Price
Change %
Centrica
278.8
2.86
Capita
1135
1.99
SSE
1537
1.98
Astrazneca
4468.5
1.81
Enterprise Inns
110.4
1.52

Stock pick of the Day : Wolseley Plc


RECOMMENDATION BUY
TARGET 3990
The Major trend of Wolseley Plc is sideways and it is showing strength for buying. If it moves above the resistance then one can initiate the long position in the stock. If it breaks the level of 3915 upside then it can show upside movement for the target of 3990 with the stop loss of 3860.

CHART FORMATION:-
Stock is trading near it's resistance and buying can be seen in the chart. Crossing the resistance will lead to upside movement. Stock is trading above the 50 & 200 DMA with positive bias.

INDICATORS:-
RSI is trading near to 52.70 level with positive bias, in upcoming session upside movement is expected.
MACD and Signal line is sustaining above the zero level line.