Friday, 8 April 2016

UK Stock Market Analysis and Stock pick of the Day as on 08/04/16

UK Stock Market Overview


London stocks ended lower on Thursday after uninspiring UK fourth quarter economic growth data.
The Office for National Statistics said UK gross domestic product rose 0.5% quarter-on-quarter in the final three months of 2015, up from 0.4% in the third quarter, as expected by analysts.
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"The preliminary estimate of UK GDP in Q4 confirmed that the recovery ended last year on a slightly lacklustre note, with growth a bit below its trend rate and still driven entirely by the services sector," said Vicky Redwood, chief UK economist at Capital Economics.



The FTSE 100 ended the day in red by 58 points at 5931. In the day market, if it crosses the resistance level of 6000 on upside after consolidation, then it can test the level of 6080 and the immediate Support level is 5920.

UK Stock Market Top Gainers

Name
Close Price
Change %
ANGLO AMERICAN
275.9
8.73
TESCO PLC
166.2
3.23
MORRISON SUPERMKTS
169.5
2.98
ANTOFAGASTA
384
2.29
BP
368.45
1.53

UK Stock Market Top Losers


Name
Close Price
Change %
CARNIVAL
3384
6.42
CENTRICA
200.2
4.71
SHIRE
3879
4.22
VODAFONE GROUP
215.3
3.54
ASTRAZENECA
4347
2.82


Stock Pick of the Day : Standard Chartered PLC



Trend  :  SELL
Target :  435

The Major trend of Standard Chartered PLC it is showing strength for selling If it crosses the support level then one can initiate selling position in the stock. If it cross the level of 455 then it can test level for the target of 435 with the stop loss of 475.

Standard Chartered Stock Pick


Technical Chart Formation


Stock is trading in a range and trading near the trend line. Breaking the support line will lead to upside movement. Stock is trading below the 50 DMA with negative bias.

Stock Indicators 


RSI is trading near to 41 levels with negative bias, in upcoming session downside movement is expected.

MACD and Signal line is sustained below the zero level line.