The
FTSE 100 Index closed 16.09 points to the good at 6567.24. In
economic news, September German trade data improved with an increase
in Berlin's current account balance to €22.3bn compared with
€10.3bn in August.The
FTSE showed upside movement through out the week but at the end of
session showed profit booking.RSI
is managing to trade above 50 level and In ADX is trading above 25
level with positive DI has given break out above negative DI with
positive bias.For upcoming session if Index can give break out above
the 6600 level on daily charts , it can test the level of 6900 with
the support of 6400 .
TOP GAINER
Name
|
Close
Price
|
Change
%
|
Bhp
Billiton
|
1676
|
2.95
|
Anglo
American
|
1364.5
|
2.67
|
Capita
|
1103
|
2.51
|
Rio
Tinto
|
3039
|
2.41
|
Bg
Group
|
1049.5
|
2.34
|
TOP LOSER
Name
|
Close
Price
|
Change
%
|
Rentokil
Initial
|
116
|
-5
|
Rsa
Insur Grp
|
446.2
|
-3.02
|
Morrison
Supermkts
|
168.4
|
-2.38
|
Man
Group
|
129.3
|
-1.97
|
Royal
Bk Scotl Gr
|
374.9
|
-1.52
|
Stock Pick of the day : Essentra Plc
RECOMMENDATION
Sell
TARGET 653
STOCK SUMMARY:
The short term trend
of Essntra Plc is b but from last few trading session it's showing
selling pressure and not managing to sustain at higher level. Stock
is facing support from the rising trend line and consolidating near
to it, breaching of it can show downside movement.One can initiate
the short position in the stock below the level of 693 for the target
of 653 with stop loss of 620.
CHART
FORMATION:-
Stock is looking
weak on chart and forming rising wedge pattern .Breaching of the
wedge pattern can show downside movement.
Stock is managing to
trade below 50 DMA and facing support from 200 DMA Breaching of it
can show downside movement.
 |
| Technical Chart |
INDICATORS:-
RSI is trading
below the level of 50 with negative bias & given the break out of
rising trnd line which indicating the down side movement in the
stock.
In ADX , Negative
DI has given the break out of positive DI which is indicating
weakness in current trend.
Slow line has given
the break out above fast level line with negative bias and about to
give break out below zero level which showing selling pressure in the
stock.
