UK stock pcik of the day : Imperial Tobacco plc

UK stock pick of the day

RECOMMENDATION BUY

TARGET 2778

The primary trend of Imperial Tobbacco Plc is side ways and from last few trading session stock is showing strength for buying and looking strong on charts.Stock is managing to trade above 50 DMA and facing resistance from 200 DMA , crossing of near resistance level i.e. 2685 with sl of 2645 for the target of 2778.

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 facing resistance from 200 DMA breaching of the 200 DMA can test the level of 2778.

INDICATORS:-

RSI is trading near to the level of 50 and showing consolidation , Breaching of the resistance level can manage to test the level of 70.

In ADX is trading above 25 level , Positive DI ia about to give the break out above negativeDI with positove bias.

MACD & Signal Line is managing to trade above zero level line.

FTSE stock pick of the day

Hsbc Holding Plc

Stock pick of the day

RECOMMENDATION Sell

TARGET 600

The major trend of Hsbc Holding Plc is Bullish and from last few trading session it's showing selling pressure .One can initiates the position in the stock with the strategy of selling at higher level.Stock has facing major support level of 642 breacing of it can test the level of 600 with the stop loss of 655

CHART FORMATION:-

Stock has forming rounding top which is reversal pattern breaching of the support level it can test the level of 600.

It's managing to trade below 50 DMA and facing support of 200 DMA breaching of 200 DMA can further show down side movement.

INDICATORS:-

RSI is trading below the level of 50 and looking further bearish.

MACD & Signal line is manages to sustain below zero level line with negative bias.