Stocks
were moving higher in the run-up to the US Federal Reserve's policy
announcement on Wednesday afternoon, as some investors were expecting that policymakers might tone down their rhetoric a bit. FTSE
100 was trading around 47 points higher than Tuesday's close at
6,449.03 and now for upcoming session it is looking strong and bullish movement is expected on the charts
any pullback between here and there should be a buying opportunity on
a short-term chart. Crossing of the resistance level if 6500 it can
show the level of 6600 & 6750 with the support of 6350.
TOP GAINER
|
Name
|
Close
Price
|
Change
%
|
|
Enterprise
Inns
|
126
|
2.27
|
|
Sainsbury
|
250.6
|
2.16
|
|
Old
Mutual
|
190
|
2.15
|
|
Tesco
Plc
|
173.35
|
2.09
|
|
Imperial
Tobacco
|
2645
|
2.04
|
TOP LOSER
|
Name
|
Close
Price
|
Change
%
|
|
Capita
|
1082
|
-6.48
|
|
Rio
Tinto
|
2986
|
-1.22
|
|
Barclays
|
220.5
|
-1.12
|
|
Standard
Chartered
|
989.35
|
-0.91
|
|
Whitebread
|
4286
|
-0.88
|
Stock pick of the day
RECOMMENDATION
BUY
TARGET 1475
The primary trend of Close Brother Group Plc is sideways, From
last week it is consolidating near to resistance level with positive
bias. Stock is expected to be in a bullish trend for upcoming session as it has given
the break out of 1410 and sustains above that after crossing of the
strong resistance i.e. 1425 it can test the level of 1475 with the
stop loss if 1404.
CHART FORMATION:-
Stock is trading with near to resistance level and consolidating with
positive bias crossing of resistance can show northward journey.
Stock is sustaining above 50 DMA and 200 DMA with positive bias.
 |
| click to enlarge |
INDICATORS:-
RSI is trading near to the level of 50 and showing consolidation ,
Breaching of the resistance level can manage to test the level of 70.
In ADX is trading above 25 level , Positive DI is placed above
negative which is indicating strength for buying.
Macd & Signal line is trading above Zero level line which is
indicating strength in the stock.
