Market Updates
European stock market rose on Thursday, as signs of a resurgence in corporate takeover activity offset lingering worries over Ukraine. The FTSE opened on gap up and made a intraday high at 6724, showed volatile movement and managed to closed above 6700 level with a gain of 28 points As Index is managed to give closing above 50 DMA & 200 DMA with RSI is trading above 50 level with positive bias, in near future it can test the level of 6860 after crossing of 6750 level with near support level at 6650,6550.
Stock Pick For Today:
Burberry Group:
Burberry Group is looking bulllish on charts and given the break out of support of falling trend line, consolidating near to resistance level. Stock is facing strong support of 1435 level and sustaing above that with positive bias. Stock is consolidating near to the resistance level, crossing of it upside movement is expected. Stock is trading above it's 200 DMA & 50 DMA with positive bias. Trader can initiate long position in it above the level of 1455 with sl of 1435 for the target of 1495.
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