LATEST MARKET OVERVIEW

LSE MARKET OVERVIEW:

Corporate takeover activity propped up European equities on Friday, allowing key indexes to recover after a sell-off in the previous session caused by weak economic data in Portugal and Italy. The FTSE last week managed to cross it's life time high and made a high at 6896, through out the week index sustain at higher level showed short term correction but face enough support at 6800 level ,showed bounce back from the level .RSI is sustains above 60 level with positive bias and having scope to test 70 level ,In near future if it manages to sustain above 6800 level it can test 7000 level in upcoming trading session.

RECOMMENDATION Sell

TARGET 122

CHART FORMATION

Stock has given the break out of trend line and consolidating near to support and forming inverted flag pattern.M

Stock is managing to trade below 50 DMA & 200 DMA with negative bias.

INDICATORS:-

RSI is trading below the level of 50 with negative bias.

MACD & Signal line are given the break out below the zero level line ,negative movement is expected

In ADX , negative DI is placed above the Positive DI.