UK Stock Market Analysis and Stock pick of the Day as on 08/04/16

UK Stock Market Overview

London stocks ended lower on Thursday after uninspiring UK fourth quarter economic growth data.

The Office for National Statistics said UK gross domestic product rose 0.5% quarter-on-quarter in the final three months of 2015, up from 0.4% in the third quarter, as expected by analysts.

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"The preliminary estimate of UK GDP in Q4 confirmed that the recovery ended last year on a slightly lacklustre note, with growth a bit below its trend rate and still driven entirely by the services sector," said Vicky Redwood, chief UK economist at Capital Economics.

The FTSE 100 ended the day in red by 58 points at 5931. In the day market, if it crosses the resistance level of 6000 on upside after consolidation, then it can test the level of 6080 and the immediate Support level is 5920.

UK Stock Market Top Gainers

Name	Close Price	Change %
ANGLO AMERICAN	275.9	8.73
TESCO PLC	166.2	3.23
MORRISON SUPERMKTS	169.5	2.98
ANTOFAGASTA	384	2.29
BP	368.45	1.53

UK Stock Market Top Losers

Name	Close Price	Change %
CARNIVAL	3384	6.42
CENTRICA	200.2	4.71
SHIRE	3879	4.22
VODAFONE GROUP	215.3	3.54
ASTRAZENECA	4347	2.82

Stock Pick of the Day : Standard Chartered PLC

Trend  :  SELL

Target :  435

The Major trend of Standard Chartered PLC it is showing strength for selling If it crosses the support level then one can initiate selling position in the stock. If it cross the level of 455 then it can test level for the target of 435 with the stop loss of 475.

Technical Chart Formation

Stock is trading in a range and trading near the trend line. Breaking the support line will lead to upside movement. Stock is trading below the 50 DMA with negative bias.

Stock Indicators 

RSI is trading near to 41 levels with negative bias, in upcoming session downside movement is expected.

MACD and Signal line is sustained below the zero level line.