UK equity market ended on a higher note on Thursday, as investors absorbed a chunk of heartening earnings, heterogeneous economic data and news of bloom in Greece. Antofagasta, Rio Tinto, BHP Billiton and Fresnillo were among the star performers.
The FTSE 100 ended the day up 25.43 points at 7,053.67 as blue-chip miners reaped benefits with manufacturing data from China. If during the day market breaches the resistance level of 7120 upside after consolidation, then it can test the level of 7180 on the upside and on the downside it has a support level of 7080.
RECOMMENDATION SELL
TARGET 1782
The Major trend of DIAGEO Plc is sideways and it is showing strength for selling. It is sustaining near the support level then one can initiate the selling position in the stock. If it breaks the level of 1846 then it can show downside movement for the target of 1782 with the stop loss of 1894.
CHART FORMATION:-
Stock is trading in a range and breaking its support will lead to downside movement. Stock is trading below the 50 DMA with negative bias.
INDICATORS:-
RSI is trading near to 42.63 level with negative bias, in upcoming session downside movement is expected.
MACD and Signal line is sustaining below the zero level line.
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