U.K. stock market Today's overview

UK stock market overview

 

The FTSE broke higher during the course of the day on Thursday as traders are starting to bet that the Scottish are in fact going to stay within the United Kingdom. Because of this, the FTSE will have a strong showing, and that we should eventually hit the 6900 level, an area that has caused a bit of problems in the past.For upcoming session it can show upside movement with the strong support of 6750.Index is managing to sustain above 50 DMA & 200 DMA which is indicating strength in the index and RSI is also supporting by sustain above 50 level and crossing of 62 level it can test the level of 70.

TOP GAINER

Name	Close Price	Change %
Tui Travels	384	4.66
Barratt Developement	403.8	3.01
Travis Perkins	1697	2.54
Smith Group	1300	2.52
Wolseley	3362	2.44

For free stock picks trial click here

 

TOP LOSER

Name	Close Price	Change %
Randgols Resources Ltd	4430	-2.55
Tullow Oil	665.5	-2.35
Fresnillo	782.5	-1.94
Sabmiller	3537	-1.12
Sainsbury	280.9	-0.81

UK stock pick of the day : Glaxosmithkline Plc

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.

For free stock picks trial click here 

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 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.

For free stock picks trial click here 

 

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.

For free stock picks trial click here 

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

For free stock picks trial click here

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.

For free stock picks trial click here

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.


For free stock picks trial click here 

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.