European Market Overview
European shares rebounded on Wednesday, led by gains in automakers. FSTE opened gap up and manages to trade in positive territory and closed on green note with the gain of 45 points. Index is trading in a range of 6450 to 6700 .It is not managing to crossed the level on the both the side and showing zig zag movement .trader can make long position when it come to the level of 6450-6500 and can open short position when it comes to level of 6700-6680 level.In near future it is looking bullish and can go to the level of 6700.
Stock Pick For Today
Antofagsta
Antofagsta is looking good for short on daily and intraday charts. Stock facing strong resistance at 875 and not managing to sustain at higher level. Stock is has formed rising channel pattern breaching of 845 level it can show downward movement. It's trading below it's 50 DMA breaching of it's 200 DMA downward movement can be seen. Trader can make short position in it below the level of 845 with stop loss of 875 for the target of 780.
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