Monday, 2 February 2015

UK Stock Market Overview as on Monday, February 02 2015


UK Stock Market Overview
London Stock Exchange
UK stocks falls on Friday after Eurozone consumer prices fell more than forecasts and the rate of US economic growth slowed sharply. The Eurozone fell further into deflation in January with consumer prices falling at an annual rate of 0.6% after a 0.2% fall the month before, worse than the 0.5% drop expected. The FTSE 100 close at 6749, down 0.9% on the day and close lowest since 21st January.
The Index has shown weakness and close near two week low and during the day if market is breaching the support level of 6720 on downside after consolidation, then it can test the level of 6640 with the resistance of 6800.

TOP GAINER
Name
Close Price
Change %
BHP Billiton
1443
2.09
Smiths Group
1127
1.53
Anglo American
1113
1.41
Rio Tinto
2925
1.35
DLY Mail& Gen TST A
860.47
1.23

TOP LOSER

Name
Close Price
Change %
Sainsbury
255.40
3.18
Rexam
425
3.03
Morrison Supermkts
179.90
2.70
BT Group
417.90
2.61
Diageo
1970
2.60



Investec Plc

Technical Report of the Investec Plc Stock
Technical Chart


RECOMMENDATION SELL
TARGET 544
The Major trend of Investec Plc is Consolidating in higher levels and it is showing weakness on charts and we can see downside movement in it. Stock is trading near its support of 556. One can initiate the short position in the stock if it breaks the level of 556 it can show downside movement for the target of 544 with the stop loss of 566.

CHART FORMATION:-
Stock is consolidating on higher level and showing weakness for downside movement in it for correction. Crossing the support will lead to downside movement. Stock is trading below the 50 DMA with negative bias.

INDICATORS:-
RSI is trading near to 43 level with negative bias , in upcoming session downside movement is expected.
MACD and Signal line is sustaining below the zero level line.