LONDON STOCKS FALL !

London stocks falls on a fourth day consecutive loss as a sell-off in iron ore and a stronger dollar hit share prices in the mining sector. In economic data, a Nationwide survey showed the annual growth in UK house prices slowed to an 18-month low of 5.1% in March. Meanwhile, the final estimate of fourth-quarter annualised US economic growth was confirmed at 2.2%, in line with initial estimates but down from 5% in the third quarter.

The FTSE 100 index ended the session down by 0.58 % at 6855.02, as it is not able to sustain above the 7000 level mark. If during the day market is breaching the support level of 6830 on downside after consolidation, then it can test the level of 6770 with the reistance of 6880.

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ANGLO AMERICAN PLC

RECOMMENDATION SELL

TARGET 990

The Major trend of ANGLO AMERICAN Plc is sideways and it is showing strength for selling. If it moves below the support level then one can initiate the selling position in the stock. If it breaks the level of 1025 then it can show downside movement for the target of 990 with the stop loss of 1058.

CHART FORMATION:-

Stock is trading near its support and it is trading near the support trendline and Crossing the support will lead to downside movement. Stock is trading below the 50 and 200 DMA with negative bias.

INDICATORS:-

RSI is trading near to 34.82 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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