MARKET
OVERVIEW
The
London stock market was more or less flat by Thursday lunchtime,
erasing earlier losses after a well-received update from Morrison's
boosted shares in the retail sector.
However,
upside was being limited ahead of a number of risk events expected
before the weekend, including a European Central Bank (ECB) monetary
policy decision and the all-important US non-farm payrolls
report.London's FTSE 100 was just 0.1%
lower
at 6,533 by midday, with investors pausing for breath after a
1.3%gain
the previous sessions.RSI is also trading above 50 level and index is
giving closing above 50 DMA & 200
DMA with positive bias . For upcoming session it is looking strong
and crossing of 6600 it can test the level 6900 with the 6400.
TOP GAINER
|
Name
|
Close
Price
|
Change
%
|
|
Sainsbury
|
262.2
|
6.03
|
|
Morrison
Suppermkts
|
172.18
|
6.02
|
|
Marks&
Spencers
|
470.4
|
5.92
|
|
Tesco
Plc
|
181.5
|
3.27
|
|
Standard
Chartered
|
960
|
2.56
|
TOP LOSER
|
Name
|
Close
Price
|
Change
%
|
|
Rsa
Insur Grp
|
460.1
|
-4.96
|
|
Tate
& Lyle
|
598.5
|
-1.72
|
|
Glaxosmithkline
|
1413.5
|
-1.57
|
|
Smith
& Nephew
|
1053
|
-1.4
|
|
Enterprise
Inns
|
129.5
|
-1.15
|
FTSE Stock Pick of the day :
Fresnillo Plc
TARGET 740
The primary trend of Fresnillo Plc is bearish but it has shown
recovery from bottom and manages to trade above with support of 50
DMA .Stock is showing strength in buying from last few trading
session and trading with positive bias.One can initiates the long
position in the stock after crossing of falling trend line at 702 it
can test the level of 740 with the stop loss of 680.
CHART FORMATION:-
Stock is showing consolidation and showed recovery from bottom, one
can go with strategy buying from bottom.
Stock is sustaining above 50 DMA and crossing of the resistance
level and crossing 200 Dma can show further upside movement
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 , Positive DI is placed above negative which is indicating
strength for buying.
Macd & Signal line is about to give break out above Zero level
line which is indicating strength in the stock.
