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NIFTY analysis with experts, L&T bags a whopping order, Indian markets make a comeback…. Market updates for 27/12/18

PurpleTrades - stock market courses > News > NIFTY analysis with experts, L&T bags a whopping order, Indian markets make a comeback…. Market updates for 27/12/18

report by- Sabyasachi Bhattacharya

 

 

L&T construction bags order worth Rs 2,357 crores-

(L&T) on Thursday said its construction arm of has won orders worth Rs 2,357 crore in the domestic market.

L&T’s water and effluent treatment and transportation infrastructure business has secured order worth Rs 1,281 crore from Andhra Pradesh Capital Region Development Authority (APCRDA), the engineering and construction major said in a regulatory filing.

The order is for activities including investigation, design and construction of roads, bridges, storm water drains, culverts, water supply systems, sewerage systems for the villages of Kurugalla, Nidamarru in Zone 12A area at Amravati Capital City, Andhra Pradesh.

The company said its water and effluent treatment business has also secured orders worth Rs 1,076 crore from the Madhya Pradesh Jal Nigam Maryadit (MPJNM).

The order is for the execution of multi village rural water supply schemes in Jabalpur, Narsinghpur, Seoni and Damoh districts of Madhya Pradesh.

Source- MoneyControl, Purple Trades Research Department 

 

 

Indian markets trade range bound-

Chart source- Upstox

Indian markets had a good outing today as the Indian Index Nifty had a High Open today after which it started moving in a range bound fashion. There was a lot of volatility in the market but the market was range bound between the two support and resistance. Equity benchmarks ended the session on a positive note, but off the high points. The Nifty ended December series below 10,800.

Some selling in banks, automobiles, metals and pharmaceuticals weighed on benchmarks, while the Nifty Midcap index ended with gains of over one third of a percent.

At the close of market hours, the Sensex was up 157.34 points or 0.44% at 35807.28, while the Nifty was higher by 49.90 points or 0.47% at 10779.80. The market breadth was narrow as 1313 shares advanced, against a decline of 1233 shares, while 181 shares were unchanged.

Adani Ports, Reliance Industries, Tech Mahindra and ONGC gained the most, while Airtel, Hero MotoCorp, and Tata Motors lost the most.

 

 

Let’s take a look at the heat map-

 

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

Global markets had a bearish day today. NASDAQ along with European Indices CAC, DAX and FTSE were all seen in the RED. Asian Indices like NIKKEI and KOSPI were seen in the GREEN.

Source- MoneyControl, Purple Trades Research Department 

 

 

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

  • 10,750 is a short term support for Nifty.
  • If Nifty breaks 10,750 then it has the potential to go down.
  • 10,800 is a short term resistance for Nifty.
  • If Nifty breaks 10,800 then it has the potential to go up.
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