MARKET
OVERVIEW
The
FTSE tumbled 2.83%on Wednesday thanks to weak data, news of Abbvie's
reconsideration of its bid for Shire and a slide in US stocks,
particularly on the Dow Jones.
After
making fairly steady declines throughout the session, the top tier
index closed 181.04 points lower at 6,211.64.At this point in time,
Market is still looking weak so we are looking for short-term rallies
in order to continue selling on short-term chart . Index can continue
it's downward rally and can show the levels of 6100 and 6000 as It's
RSI is trading below 50 levels and index it not managing to cross the
50 DMA so sustaining below that can show further downward side.
Green Core Group
RECOMMENDATION
Sell
TARGET 210
The secondary trend of Green Core Group is Bearish and from last
few trading session it's showing selling pressure and did not manages
to sustain at higher level.Stock is facing support at the level of
228, breaching of it can show side movement one can initiates the
short position in the stock below the level of 228 with Stop loss of
228 for the target of 210.
CHART FORMATION:-
Stock is consolidating with negative bias breaching of the support
level can show the down side movement.
It's 50 DMA has given the breack out below it's 200 DMA with negative
bias , it is trading below both the moving averages which is
indicating selling pressure in the stock.
TOP GAINER
Name
|
Close
Price
|
Change
%
|
Morrison
Supermkts
|
157.6
|
1.1
|
TOP LOSER
Name
|
Close
Price
|
Change
%
|
Shire
|
4012
|
-21.95
|
Smith
& Nephew
|
921.5
|
-5.39
|
Hays
|
110.7
|
-5.38
|
Man
Group
|
108.3
|
-5.33
|
Barclays
|
212.2
|
-4.41
|
INDICATORS:-
RSI is trading below the level of 50 and consolidating with negative
bias.
MACD & Signal line is manages to sustain below zero level line
with negative bias.
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