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

UK stock Pick of the day : Shaftesbury Plc Ord

 

RECOMMENDATION BUY

TARGET 696

The primary trend of Shaftesbury Plc is side ways and from last few trading session stock is showing strenght for buying and looking strong on charts.The level is very crucial earlier it has been the major support level at 676 and it has tested the level now it's acting like the resistance level crossing of it can show upside movement and can test the level of 696 . One can initiates the long position above the level of 676 with sl of 665 for the target of 696.

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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 managing to trade above 50 DMA and facing resistance from 200 DMA at 679 crossing of it can show further 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.

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

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.

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

 

MARKET OVERVIEW

Weakness in the heavyweight mining sector pushed UK equity markets into the red on Thursday, outweighing a decent performance by financial stocks.Underwhelming interim results from the likes of Morrisons and Next were also weighing on sentiment in London.The FTSE 100 was trading 0.4% Lower at 6,805 by midday.

Index opened on gap up but did not manages to sustain higher and showed negative bias and closed with moderate loss.For upcoming session it will supposed to move in range of 6780-6820.Consolidating in the range can show further upside movement as RSI is trading above 50 level and having scope to test the 70 level as Index is managing to sustain above 50 DMA & 200 DMA so it is also indicating the strength of current trend with support of 6750.

TOP GAINER

Name	Close Price	Change %
Sse	1485	2.77
Itv	216.6	1.98
Enterprises Inns	118.2	1.9
Hays	127.4	1.11
Lloyds Banking	74.08	1.16

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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

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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Close Brother Group Plc : UK stock pick of the day

RECOMMENDATION : BUY

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.