MARKET
OVERVIEW
Weakness
in the resource sectors limited gains in London on Monday, though
equity markets still managed to register their fifth straight day of
gains as investors readied themselves for the Christmas break.The
FTSE 100 finished 0.5%higher
at 6,577, but pulled back after reaching a high of 6,620.95 earlier
on. It has not exceeded this level since 8 December when it closed at
6,672.15.The
FTSE
has
rally during the session on Monday, but turned back around as the
6600 level is far too much in the way resistive.Market can show short
term correction any pull back rally will be buying opportunity and
market can be headed towards 6900 levels.
TOP GAINER
|
Name
|
Close
Price
|
Change
%
|
|
Enterprise
Inns
|
110
|
2.8
|
|
Compass
Group
|
1107
|
1.93
|
|
Bae
Systems
|
471.3
|
1.86
|
|
Kingfisher
|
330.1
|
1.82
|
|
Johnson
Matthey
|
3410
|
1.76
|
TOP LOSER
|
Name
|
Close
Price
|
Change
%
|
|
Tesco
Plc
|
181
|
-2.37
|
|
Bg
Group
|
886.1
|
-1.69
|
|
Anglo
American
|
1173.5
|
-1.63
|
|
Rsa
Insur Grp
|
445.2
|
-0.98
|
|
Antofasta
|
738.5
|
-0.81
|
UK Stock Pick of the Day : WH Smith Plc Ord
RECOMMENDATION
BUY
TARGET 1430
The Major trend of WH Smith Plc Ord is bullish and it's consolidating
near to resistance level at higher level with positive bias can show
northward journey .One can initiate long position in the stock above
the level of 1340 with the stop loss of 1290 for the target of 1430.
CHART FORMATION:-
Stock is showing consolidation at higher level crossing of resistance
level can show upside movement
It's trading above 50 & 200 DMA with positive bias.
RSI is trading above the level of 50 and showing consolidation ,
Breaching of the resistance level can manage to test further high.
MACD and Signal line is manages to give break out above zero level
line sustaining above it can sjow upside movement.
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