FTSE100 | L&G Plc Group Buy call

MARKET OVERVIEW

Shares ended the session lower in London as markets' focus shifted from the Greek crisis to central banks and corporate earnings.

Nevertheless, traders breathed a sigh of relief after Germany's parliament approved starting talks with Greece on a third bail-out package and to ratify the provision of a bridge-loan to tidy the country over until a new full bailout package is in place, possibly in about a month's time.

The FTSE 100 ended the day in red by 21.37 points at 6775.08 If during the day market breaches the supprot level of 6750 on the downside after consolidation, then it can test the level of 6700 and the immediate resistance level is 6800.

LEGAL & GENERAL PLC GROUP 

RECOMMENDATION BUY

TARGET 275.50

The Major trend of LEGAL & GENERAL GROUP PLC it is showing strength for buying .If it breaks the resistance level then one can initiate the buying position in the stock. If it breaks the level of 272.80 then it can test resistance level for the target of 275.50 with the stop loss of 270.50

CHART FORMATION:-

Stock is trading in a range and trading near the trendline. Breaking the resistance line will lead to upside movement. Stock is trading above the 50 DMA with positive bias.

INDICATORS:-

RSI is trading near to 60.07 level with positive bias, in upcoming session upside movement is expected.

MACD and Signal line is sustaining above the zero level line.