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Nifty analysis with experts, BHEL bags a new order by WBPDCL, Indian markets had a mixed reaction…. Market updates for 31/12/18

PurpleTrades - stock market courses > News > Nifty analysis with experts, BHEL bags a new order by WBPDCL, Indian markets had a mixed reaction…. Market updates for 31/12/18

Report by- Sabyasachi Bhattacharya


BHEL bags a Rs 3,500 crores deal by WBPDCL to establish thermal unit-

State-run BHEL on Monday said it has bagged an order worth Rs 3,500 crore for setting up a 660 MW supercritical thermal power plant in West Bengal. The order by West Bengal Power Development Corporation (WBPDCL) entails setting up a 660 MW Sagardighi Thermal Power Project at Manigram village in Murshidabad district of West Bengal, BHEL said in a statement. According to the statement, BHEL’s scope of work in the project includes design, engineering, manufacture, supply, testing and commissioning of the main plant turnkey package, comprising supercritical boiler and turbine generator along with its auxiliaries, coal handling plant and ash handling plant. The project would help in reducing fuel consumption and will limit emissions aimed at meeting revised emission norms, notified by the Ministry of Environment, Forest and Climate Change. The BHEL has so far contributed over 80 per cent of the total coal-based generating capacity of WBPDCL. The key equipment for the project will be manufactured at BHEL’s Trichy, Haridwar, Bhopal, Ranipet, Hyderabad, Jhansi, Thirumayam and Bengaluru plants, while the company’s eastern region division will be responsible for construction and installation activities on site, it added.

Source-Purple Trades Research Department   



Indian markets witness a mixed reaction today-

Chart source- Upstox

Indian markets had a mixed reaction today. As you can see on the chart the Index had a GAP_UP opening today after which it started moving downwards. The index did try to break upwards but couldn’t breach the 10,900 mark. It tried to breach that mark thrice but was unsuccessful. It’s a rather somber end to the market on the last trading session of 2018. Mixed Asian and European cues kept the market in check. The Nifty ended 2018 below 10,900. Weakness was visible among index heavyweights, which dragged the indices. Meanwhile, among sectors, auto, metals and pharmaceuticals were all trading in the green. At the close of market hours, the Sensex was down 8.39 points or 0.02% at 36068.33, and the Nifty up 2.60 points or 0.02% at 10862.50. The market breadth was narrow as 1495 shares advanced, against a decline of 1095 shares, while 164 shares were unchanged. Tata Steel, Vedanta, and JSW Steel were the top gainers, while Hero MotoCorp, Axis Bank, Bharti Airtel and Bharti Infratel lost the most.




Let’s take a look at the performance of major Indices-

Global markets had a bullish day today. Asian Indices along with European Indices CAC and DAX were all seen in the GREEN. FTSE was seen in the RED along with NIKKEI

Source- MoneyControl, Purple Trades Research Department   



Key Points for Traders to watch out for while trading Nifty tomorrow-

  • 10,815 is a short term support for Nifty.
  • If Nifty breaks 10,815 then it has the potential to go down.
  • 10,900 is a short term resistance for Nifty.
  • If Nifty breaks 10,900 then it has the potential to go up
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