U.K. Stock pick of the day : Close Brothers Group

 

RECOMMENDATION BUY

TARGET

Close Brother Group Plc is looking strong on charts for buying .The over all trend of stock is Bullish and it is managing to trade with positive biasStock is strength as it's sustaing above both moving averages .In upcoming session it can show upside movement after crossing of the resistance level at 1390 it can test the level of 1490 with the stop loss at 1340.

 

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CHART FORMATION:-

Stock has managing to trade with positive bias and managing to sustain at higher crossing of resistance level it can show upside movement.

It's managing to trade above 50 DMA and 200 DMA with positive bias.

INDICATORS:-

RSI is trading above the level of 50 and looking further bullish and facing resistance at 60 crossing of it can test the level of 70.

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

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 market overview

The FTSE closed just marginally above its opening level on Wednesday as investors responded to a drop in German consumer confidence, almost flat trading in the US and expectations for the next day's session, which is due to be significantly move data-heavy.

Coming off a sharp dip seen late afternoon, the FTSE 

ultimately closed 7.9 points higher at 6,830.66.

Index has managing to give closing above 6800 level and indicating it in near upside movement is expected once it manage to cross the level 6900 it can test the level 7000 as  it's sustain above above 50 DMA & 200 DMA with positive bias, It has managing to give closing above zero level line with MACD & Signal line sustain above that which is indicating further upside movement.  

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Stock pick for tomorrow

Stock : Diageo Plc

RECOMMENDATION : BUY

TARGET 1855

Diageo Plc is looking good for buying ,the major trend of stock is bearish but it's showing accumulation from bottom and gaining strength for buying. Stock is facing resistance from 89 EMA breaching of it can show upside movement.Stock is shoeing bounce from bottom if it manages to consolidate near to the resistance level One can initiate the long position in the stock above the level of 1785 with stop loss of 1745 for the target of 1855.

CHART FORMATION:-

Stock is forming falling channel and breaching of it can show upside movement in the stock.

It's managing facing resistance from 89 EMA crossing of it can test the level of 200 DMA at 1819.

INDICATORS:-

RSI has shown bounce back from 30 level and consolidating near to 45 level with positive bias ,in upcoming session crossing of 50 level it can test the level of 70.

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

In Stochastic , K% is trading above D% which is showing strength for buying in the stock.

Stocks : Top Losers in the UK market on Thursday, August 07 2014

Name	Close Price	Change %
Man Group	116.7	-4.3
Intercont Hotels	2288	-3.26
William Hill	336.3	-1.52
Whitbread	4162	-1.51
Royal Bk Scotl Gr	347.3	-1.48

Stocks : Top Gainers in the UK market on Thursday, August 07 2014

Name	Close Price	Change %
Dixnos Retail	52.95	1.53
Itv	207	1.37
Next	6780	1.12
Dly Mail & Gen Tst A	829.6	1.11
Glaxosmithkline	1445.5	1.08