FTSE Yesterday's Overview

London's blue chips ended Thursday's session more than 100 points lower, as the European Central Bank (ECB) conference disappointed traders.The FTSE 100 closed 111.13 points below the opening bell, at 6,446.39.index has shown huge selling pressure and manages to trade below 50 DMA & 200 DMA with RSI is also sustain below the level of 50 with negative bias.In upcoming session further down side movement is expected as it has breached the major support level of 6500 now upcoming support level is 6450 breaching of it can test the level 6300 with the support of 6750.

TOP GAINER

Name	Close Price	Change %
Glaxosmithkline	1417.5	0.25
Dly Mail & gen Tst A	756.25	0.17
Tate & Lyle	585.5	0.09

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TOP LOSER

Name	Close Price	Change %
Man Group	113.3	-4.9
Sainsbury	224.8	-3.93
Enterprise Inns	117.9	-3.83
Bg Group	1053.5	-3.61
Intercont Hotels	2251	-3.56

U.K. stock market yesterday's overview

UK stock market overview

 

The FTSE 100 Index closed 66.56 points adrift at 6639.71 as the greenback bounced on speculation of monetary stimulus from the European Central Bank (ECB) and US interest rate hikes.The FTSEinitially tried to rally on Thursday, but turned back around and formed a rather negative candle. ThE FTSE 100 opened on negative note but in intial market session tested the 6700 but did not manages to sustain at higher level and closed on negative note .

In upcomming session it can show downside movement after breaching the major support level of 6580 it can test the level of 6500 with the resistance of 6700.

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TOP GAINER

Name	Close Price	Change %
William Hills	373.8	2.61
Lloyds Banking Grp	76.2	1.07
Shire	5240	1.06
Schroders Nvtg	1856	1.03
Reckitt Benck Grp	5304.2	1.03

TOP LOSER

Name	Close Price	Change %
Anglo American	1407	-3.7
Bp	451.25	-2.95
Bhp Billiton	1746	-2.87
Kohnson Mathey Plc	2944	-2.52
Rexam	495.8	-2.5

U.K. Stock pick of the day : Fresnillo Plc

U.K. stock pick of the day

RECOMMENDATION BUY

TARGET 845

The major trend of Fresnillo Plc Ord is Bearish and from last few trading session it's showing strength of buying.Stock is forming H&S pattern which is a reversal pattern crossing of neck line can show upside movement.One can initiates the long position in the stock above the level 795 with SL of 770 for the target of 845.

 

CHART FORMATION:-

Stock has forming H&S pattern which is reversal pattern , Crossing of neck line can show upside movement.

It's managing to trade above 50 DMA and facing resistance from 200 DMA crossing of it can show upside movement.

INDICATORS:-

RSI is trading above the level of 50 and forming downward channel , Breaching of the channel can manage to test the level of 70.

ADX is trading above 25 level , Positive DI is given the break out above negativi DI which is confirming strenght in the stock.

Sluggish Global Markets with Weak Growth Data and Geopolitical Tensions

Adverse Global cues with Western Markets in Europe fell flat because of Slow Growth in September, the second month running. The Weak French manufacturing data, and a decline in Manufacturing sector data for Germany triggered a slow down in Wall Street,the FTSE 100 dropped 1.4 percent to 6,676 and The EURO STOXX 50 Index, Europe's leading Blue-chip index for the Eurozone, is down to 342 down 1.4 percent. 

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The The Dow Jones Industrial Average showed a downward trend with a drop of 0.7 per cent to 17,056 and the S&P 500 dropped 0.6 per cent to 1,983.

Janet Yellen Fed Reserve Head has Signaled the Rate Hike Can Come Sonner than Expected and and Told the Investors to be Prepared for it, if that happens US Stocks will tank, already reeling from the new Tough laws for Checking the Corporate Inversion in which US Companies shifted their profits abroad to avoid taxes. At least Ten Companies which are in middle of Deal Making such as Burger King Deal with Tim Hortan will be Impacted because of these measures.

The Grim Situation in the World Markets is Compounded by a rapidly developing Geo-Political situation in Syria with USA-Arab Coalition Decision to go in for a strike, The Obama calling for others nation to Join in the fight with "This is not America's fight alone" can the Impact of it is set to transcend boarders.

On Asia Front HSBC Flash Data on Purchase Manager Index of 50.5 better than last month data of 50.2 has meant a strong sentiment in Chinese Market, with report showing a growing manufacturing sector, leading to a strong stock rally bucking the Global Trend of Caution and slow down. There Should be a more clarity on it once the Final Data which is set to released on 30th September. The Asian Stocks have Rebounded with Hong-Kong rising mitigating losses suffered in Australia and Japan.

The Market this week will continue to show a sluggish movement with US Home Sales Data Due in six Hours, and Annualized US GDP Data due in a couple of days, being high Impact data also on watch will be Australian RBA Governor Glenn Steve speech tomorrow in which he is expected to make major Policy Announcement.

U.K. stock market yesterday's overview

London-listed stocks ended the final session of the week with decent gains, although the final figure was notably lower than the level seen earlier in the day following the Scottish referendum result.Some 55.3% of Scots voted 'no' to independence from the UK while 44.7 voted 'yes', erasing concerns about a break-up which has weighed heavily on market sentiment in recent weeks.

FTSE 100 in the initial week showed selling pressure but have enough support at the level of 6750 and closed the week with green note with the weekly high at 6888.In upcoming session it is looking strong for buying ,managing to sustain above 50 DMA & 200 DMA with RSI is also supporting by trading above 55 level .Index is having strong resistance at 6905 level crossing of it can test the level 7000,7150 with the support of 6750.

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TOP GAINER

Name	Close Price	Change %
3I Group	398.9	3.29
Royal Bk Scotl Gr	366	2.46
Morrison Suppernkts	435.3	2.23
Hays	182	2.02
Carnival	127.9	1.92

TOP LOSER

Name	Close Price	Change %
Rio Tinto	3179	-156
Wolseley	3315	-1.04
Bhp Billiton	1739.5	-1.27
Anglo American	1472	-1.17
Prudential	1413	-1.02

U.K stock market overview

FTSE Overview

 

An injection of liquidity into Chinese banks couldn't do much to lift UK stocks on Wednesday, as investors traded cautiously before the commencement of policy decision from the Federal Reserve.

The FTSE 100 ended in red by 0.17% at 6,780.19, down from the 6,792.24 seen on Tuesday, its lowest close since Aug 22. FTSE 100 opened on a positive note but could not manage to trade with similar fashion and closed in negative. For upcoming session it can further show correction and can test the level of 6700 and if it manages to consolidate above the support level of 6700 it can show recovery till 6820 level.

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Top losers and gainers of FTSE

TOP GAINER

Name	Close Price	Change %
Schroders Nvtg	1895	2.43
Lloyds Banking Grp	74.7	1.63
Tate & LyleS	706	1.44
3I Group	378.9	1.34
Wolseley	3282	1.08

TOP LOSER

Name	Close Price	Change %
Smiths Group	1268	-6
Uniliver	2619	-2.42
Sabmiller	3577	-2.29
Reckit Benchkiser	5390	-1.9
Intertek Group	2646	-1.89

U.K. Stock pick of the day : Glaxosmithkline Plc

U.K. stock pick of the day

RECOMMENDATION BUY

TARGET 1500

The primary trend of Glaxosmithkline Plc is side ways and from last few trading session stock is showing strenght for buying and looking strong on charts.Stock is showing buying from dips and facing resistance from the falling trend line breaching of it can show upside movement .One can make a long position in the stock above the level of 1450 with sl of 1420 for the target of 1500.

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CHART FORMATION:-

Stock has managing to trade with positive bias and consolidating near to resistance level crossing of it can show northward journey.

It's 200 DMA has given the break out above 50 DMA which is indicating buying in the stock.

INDICATORS:-

RSI is trading above the level of 50 and forming downward channel , Breaching of the channel can manage to test the level of 70.

Fast line has given the break out above slow line and it's sustains above the zero level.

ADX is trading above 25 lvel , Positive DI has given the break out above negative DI.

U.K. Stock market insights

Weak risk appetite ahead of the Federal Reserve meeting prompted the FTSE 100 to drop into the red on Tuesday.After a turbulent performance, the FTSE 100 ultimately closed down 11.97 points at 6,792.24.Index is showing negative bias from last few trading session and closing with loss.For upcoming session it can show further profit booking as the major trend is long but for short time further correction is expected , breaching of 6780 level it can test the level of 6700 .The level is having enough support and buying can be made at this level for the target of 6850.50.

TOP GAINER

Name	Close Price	Change %
William Hill	348	1.99
Pearson	1226	1.66
Royal Bk Scotl Gr	351.3	1.33
Bp	472.35	0.86
Sse	1496.5	0.74

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TOP LOSER

Name	Close Price	Change %
Sports Direct International	664	-3.77
St James's Place	678	-2.38
Sabmiller	3661	-2.11
CRH	1419	-2.07
Tullow Oil	686.5	-2

FX currencies down today

Forex markets are confusing traders today, as all the major currencies declined on domestic cues, mixing forex pair value on Tuesday.


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In United States of America, data records of growth in factories, utilities and mining sector lost 0.1 percent in last month, posting a falling trend after surging at 0.2 percent in July.

Among other sectors, Manufacturers fell by 0.4 percent extending losses, with auto producers losing 7.6 percent in August. With all the major sectors reporting losses, US consolidating currency representing trades weakened its level, after trading at the highest peg in last 14 months.

US currency reported lower by 0.1 percent trading at 107.19 against Japanese Yen after trading higher at 107.39. USD/JPY at 107.39 is the highest record hit by the forex pair in last 6 years.

Euro fell in the basket of currencies as well, as it slipped 0.2 percent over dollars, reporting the pairing of EUR/USD at 1.2938. The trading kept in view flat level of USD among other currencies basket at 84.240.

In forex pair EUR/JPY traded lower at 138.70 shedding 0.3 percent in the trades today.

The Australian dollar's slipped 3.6 percent in September citing hike in interest rates from Reserve bank to revive the economy, placing AUD back up on the trading plate.

Meanwhile data showed a deep connection between China and Australia, its largest trading partner, is likely to miss its 2014 growth target, which is the prime reason behind lowering Aussie. AUD is trading at lowest point in 6-months at 89.85 cents as per records on Monday.

Weekly Outlook of FOREX market ending on September 12

Concluding the week with a positive vibe, US dollars recorded higher against 16 major currencies in forex pairing. USD expanded its growth rate in the week as it framed its biggest hit in international trade breaking last record of November 2013 with support from rising expectation of investors from US economic data.

In the running week, USD benchmarked highest record in its pairing with Aussie, with a change at 0.4 percent rate AUD/USD is trading at 0.9064 levels.

The major news driving forex exchange markets, "Early hike in interest rate" after the policy meeting of Federal Reserve and policy makers from September 16 to September 17. On speculations of rising USD, another important pairing with European markets which steadied their fluctuations remained almost flat reporting EUR/USD at 1.2917.

UK markets raged with stormy waves of changing market sentiment as independence of Scotland made its appearance on Monday pulling down Great British Pound (GBP) and another poll saying no to independence of the land brought back growth to sterling.

Market of UK is likely to trade in volatility until the matter is off the table. According to the latest quote, GBP/USD is trading at 1.6237 higher in weekly report and lower in preset levels.

Japanese Yen is running down the valley as it expanded its falling trend following the changes invested by Bank of Japan. Downward movement of JPY and hiking USD is tripping down the pairing of USD/JPY at 0.1 percent trading at 107.24.

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UK stock market overview

UK stock market overview

 

London's FTSE 100 had erased earlier losses and was trading in positive territory by Wednesday lunchtime, helped by decent gains from Kingfisher, Barratt Developments and precious metal stocks.However, upside was being limited by falls from Sports Direct and a host of blue chips that went ex-dividend.Index opened on flat note traded in a range and closed with minimal gain and manage to close above the level of 6800 which is proving as strong support zone.In near future if Index manages to sustain above 6750 level and showed consolidation it can test the level 6900 crossing of it can test 6950 level.

TOP GAINER

Name	Close Price	Change %
Kingfisher	320.2	4.23
Pearson	1161	2.65
Barclays	228.45	1.13
Bp	471.5	1
Glaxpsmithkline	1451.15	0.91

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TOP LOSER

Name	Close Price	Change %
Itv	212.5	-2.52
hays	126.2	-1.41
Sainsbury	289	-1.47
Dly Mail	846	-1.25
William Hill	349.6	-1.1

UK stock Pick of the day : Carillion Plc Ord

 

UK stock pick of the day

RECOMMENDATION : Sell

 

TARGET 314

 

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STOCK SUMMARY:

The major trend of Carillion plc Ord is sideways but from last few trading session it's showing selling pressure and not managing to sustain at higher level. Stock is facing support from the rising trend line and consolidating near to it, breaching of it can show downside movement.One can initiate the short position in the stock below the level of 328 for the target of 314 with stop loss of 335.

 

CHART FORMATION:-

Stock is looking weak on chart and forming symmetric triangle breaching of support level it can downside movement.

Stock is managing to trade below 50 DMA and 200 DMA , facing resistance from it's 50 DMA which is acting as good stop loss level at 335.

 

INDICATORS:-

RSI is trading below the level of 50 with negative bias & given the break out of rising trnd line which indicating the down side movement in the stock.

In ADX , Negative DI has given the break out of positive DI which is indicating weakness in current trend.