Power Grid, NTPC rally post govt's infra push; will BHEL and NHPC follow?

Power Grid is continuously trading above 200-weekly moving average (WMA) since June 2014.

Finance Minister Nirmala Sitharaman on Tuesday launched a National Infrastructure Pipeline (NIP), unveiling projects worth Rs 102 trillion, wherein a major chunk is being alloted to power, renewable energy, atomic energy and petroleum and natural gas sectors. Reacting to the announcement, power stocks jumped in Wednesday's trading session. Among state-run power stocks, NTPC gained 2 per cent, while Power Grid Corporation (PFC) closed 2.76 per cent higher. However, Bharat Heavy Electricals (BHEL) and NHPC remained sluggish.

Here's a look at what technical charts indicate for state-run power stocks -
 
NTPC (NTPC): The moment this counter breached the 200-day