Market Updates:
European shares rose on Tuesday, led by technology stocks as results from chipmaker Infineon and telecommunication gear maker Nokia brightened the outlook for the sector. The FTSE opened gap up note , showed upside movement and managed to breach it's major resistance level of 6750 and sustain above that with a intra day high at 6769. As Index is managed to give closing above 50 DMA & 200 DMA with RSI is trading above 50 level with positive bias , It can test the level of 6860 in near future with near support of 6650.
TOP GAINER
Name
|
Close
Price
|
Change
%
|
Legal
& General
|
212.9
|
3.2
|
Carnival
|
2370
|
3.18
|
Bg
Group
|
1180.62
|
3.02
|
Bp
|
502.65
|
2.93
|
Imperial
Tobacco
|
2605
|
2.16
|
TOP LOSER
Name
|
Close
Price
|
Change
%
|
Johnson
Matthey Plc
|
3251
|
-1.01
|
Dly
Mail & Gen Tst A
|
805
|
-0.92
|
Antofagsta
|
781
|
-0.83
|
Wolseley
|
3390
|
-0.76
|
Astrazeneca
|
4632.5
|
-0.73
|
Stock Pick For Today: Buy Prudential Plc
The over all trend of Prudential Plc is strong, it is consolidating near resistance level facing strong support at 1330 and manages to trade above that. Stock is consolidating and forming pennant pattern near to 1457 level. It's 50 DMA is placed at 1339 & it's 200 DMA is placed at 1315. It's 50DMA has managed to give break out above it's 200 DMA which is signaling buying. Crossing of 1457 level it can show upside movement and can give target of 1415 with stop loss of 1330.
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| Stock Pick of Today: Pridential Plc |
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