 |
| London Stock Exchange |
UK
stocks falls on Friday after Eurozone consumer prices fell more than
forecasts and the rate of US economic growth slowed sharply. The
Eurozone fell further into deflation in January with consumer prices
falling at an annual rate of 0.6% after a 0.2% fall the month before,
worse than the 0.5% drop expected. The FTSE 100 close at 6749, down
0.9% on the day and close lowest since 21st
January.
The
Index has shown weakness and close near two week low and during the
day if market is breaching the support level of 6720 on downside
after consolidation, then it can test the level of 6640 with the
resistance of 6800.
TOP GAINER
Name
|
Close
Price
|
Change
%
|
BHP
Billiton
|
1443
|
2.09
|
Smiths
Group
|
1127
|
1.53
|
Anglo
American
|
1113
|
1.41
|
Rio
Tinto
|
2925
|
1.35
|
DLY
Mail& Gen TST A
|
860.47
|
1.23
|
TOP LOSER
Name
|
Close
Price
|
Change
%
|
Sainsbury
|
255.40
|
3.18
|
Rexam
|
425
|
3.03
|
Morrison
Supermkts
|
179.90
|
2.70
|
BT
Group
|
417.90
|
2.61
|
Diageo
|
1970
|
2.60
|
Investec Plc
 |
| Technical Chart |
RECOMMENDATION SELL
TARGET 544
The Major trend of Investec Plc is Consolidating in higher levels
and it is showing weakness on charts and we can see downside
movement in it. Stock is trading near its support of 556. One can
initiate the short position in the stock if it breaks the level of
556 it can show downside movement for the target of 544 with the stop
loss of 566.
CHART FORMATION:-
Stock is consolidating on higher level and showing weakness for
downside movement in it for correction. Crossing the support will
lead to downside movement. Stock is trading below the 50 DMA with
negative bias.
INDICATORS:-
RSI is trading near to 43 level with negative bias , in upcoming
session downside movement is expected.
MACD and Signal line is sustaining below the zero level line.
