 |
| London Stock Exchange |
London
shares closed comfortably in positive territory on Tuesday on upbeat
economic news and strong corporate results.The
FTSE 100 Index closed 37.16 points ahead at 6709.13 as UK house
prices reached a new high in September, according to data from the
Office of National Statistics (ONS). The FTSE
as
you can see broke higher during the course of the day on Tuesday,
breaking the level of 6700 For upcoming Session market is bullish,
and short term correction is expected. It can go higher and probably
aim for the 6900 level,with the support of 6600 .
TOP GAINER
|
Name
|
Close
Price
|
Change
%
|
|
Tullow
Oil
|
475
|
3.01
|
|
British
Sky Broadcasting Group
|
890
|
2.52
|
|
Randgold
Resources Ltd
|
4428
|
2.44
|
|
Sports
Direct International
|
651
|
2.32
|
|
Burberry
Group
|
1586
|
2.07
|
TOP LOSER
|
Name
|
Close
Price
|
Change
%
|
|
Rio
Tinto
|
3004
|
-1.77
|
|
Reckitt
Benckiser Group
|
5230
|
-1.69
|
|
Ashtead
Group
|
1048
|
-1.6
|
|
Standard
Chartered
|
924.2
|
-1.29
|
|
Easy
Jet
|
1525
|
-1.23
|
Stock pick of the day : Tesco Plc
RECOMMENDATION
BUY
TARGET 210
The primary trend of Tesco Plc is bearish and it's consolidating
near to resistance level crossing of the resistance can show
northward journey .Stock is sustaining above the trend line with
positive bias, crossing of the psychological level of 198 it can
show fresh buying .One can initiate long position in the stock above
the level of 198 with the stop loss of 194 for the target of 210.
CHART FORMATION:-
Stock has given the break out of falling trend line and forming
bullish pattern breaching of the level 2000 it can show upside
movement.
It's trading above the 50 DMA &facing resistance from 200 DMA
with the positive bias.
INDICATORS:-
RSI is trading above the 50 level and showing consolidation ,
crossing of 60 level it can test the level of 70.
Macd & Signal line is about to give break out above Zero level
line which is indicating strength in the stock.
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