2nd January, 2019

A gap down opening expected today after witnessing a u turn in the last hour yesterday.

After opening higher the index immediately slipped into the red and continued to trade in a narrow range, but gained strength in the last hour to climb above 10,900 levels. It formed 'Hammer' kind of pattern on the daily charts.
Nifty could not able to sustain above 10950 level zone and hence it can be considered as a resistance zone for instance.

🎯 News & Impact 🎯

December sales :
🎯 Tata Motors :
Total sales down 8 % to 50,440 units versus 54,627 units YoY.

🎯 Eicher Motors :
Motorcycle sales down 13 percent at 58,278 units versus 66,968 units YoY.

🎯 VST Tillers :
Power tillers sales at 1,353 units versus 3,004 units and tractors sales at 602 units versus 611 units YoY.

🎯 Coal India :
December coal production at 54.13 million tons versus 54.63 million tons.

🎯 Weizmann Forex :
Promoters intended to sell their entire stake of 74.84 percent stake in the company.
Negative for the stock.

🎯 Powergrid :
Subsidiary POWERGRID Jabalpur Transmission Limited successfully commissioned the project viz. transmission system strengthening associated with Vindhyachal-V which comprises establishment of Vindhyachal Pooling Station - Jabalpur Pooling Station 765kV Double Circuit Transmission line on build, own, operate and maintain (BOOM) basis.

🎯 MOIL :
Price of Ferro Grade have been decreased by about 10% on the existing prices.
On select grades of non-moving low grade manganese ore, discount of 10% has been offered.

🎯 Glenmark :
Transfer of the company's API business to Glenmark Life Sciences Limited, a wholly owned subsidiary of the company, has been completed.

🎯 Chambal Fertilizers & Chemicals :
Company has declared the commencement of commercial production from Gadepan-III plant.

Edited by Sharp.