MARKET OVERVIEW
UK stocks falls after stronger U.S data and jump in oil prices. In first part of the day stock had started on the back foot after figures showed that the overall UK trade deficit unexpectedly widened from £1.8bn in November to £2.9bn in December, missing analysts' forecasts for a fall to £1.7bn.
The
FTSE 100 finished the day in red with down 0.2% at 6853, as mining
stocks tracked metal prices lower. If during the day market is
breaching the resistance level of 6890 on upside after consolidation,
then it can test the level of 6960 with the support of 6840.
TOP GAINER
Name
|
Close
Price
|
Change
%
|
Barclays
|
257.57
|
2.72
|
William
Hill
|
388.9
|
1.89
|
Schroders
|
2965
|
1.72
|
Royal
Bk Scotl GR
|
383.9
|
1.64
|
Aviva
|
537
|
1.42
|
TOP LOSER
Name
|
Close
Price
|
Change
%
|
Tate
& Lyle
|
573.5
|
13.69
|
BG
Group
|
932.7
|
2.31
|
Anglo
American
|
1145.5
|
2.26
|
BHP
Billiton
|
1505
|
2.15
|
Rexam
|
527.5
|
1.95
|
Stock pick of the Day : Aviva Plc
RECOMMENDATION BUY
TARGET 552
The Major trend of Aviva Plc is sideways and it is showing strength
for buying. If it moves above the resistance then one can initiate
the long position in the stock. If it breaks the level of 542 upside
then it can show upside movement for the target of 552 with the stop
loss of 536.
CHART FORMATION:-
Stock is forming Bullish Flag and buying can be seen in the chart.
Crossing the resistance will lead to upside movement. Stock is
trading above the 200 & 50 DMA with positive bias.
INDICATORS:-
RSI is trading near to 63.74 level with positive bias, in upcoming
session upside movement is expected. Volume is also on higher side
only.
MACD and Signal line is sustaining above the zero level line.
