Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 30 points or 0.27 percent. Nifty futures were trading around 11,253-level on the Singaporean Exchange.
The move, a yearly practice by the exchange, is the interest of retail traders. The removal which is usually based on pre-defined criteria helps in maintaining liquidity in the instrument
In the BSE Smallcap index, 60 percent of total 750 stocks were in the positive return on closing of April 16 and of which top 45 stocks rallied between 50-195 percent.
A bullish trade in BEML on account of the formation of an inverse Head and Shoulder pattern.
"BEML has received a contract for seven metro train sets of six cars configuration to augment the metro services in Bengaluru valued around Rs 400 crore," the company said in a regulatory filing.
The state-owned Mini Ratna company received contract for 7 Metro train sets of 6 cars configuration to augment the metro services in Bengaluru.
Rollover data clearly indicates that the banking index is very light on positions and fresh build-up in coming days will decide the further trend in the banking index.
Japanese companies Hitachi and Kawasaki will bid to be the main contractor in the Japan government-assisted Ahmedabad-Mumbai bullet train project.
58 stocks in the S&P BSE Small-cap index rose 10-40% in the week gone by which include names like Welspun Enterprises, Dhampur Sugar, Dish TV, and BEML.
Most technical experts feel that the momentum is likely to continue in December as well. The Nifty50 which reclaimed 10,800 is on track to hit 11,000 in this year as well.
"The MoU will result into additional Rs 150-200 crore revenue for both PSUs. The collaboration will entail re-entering rope shovels and walking draglines manufacturing with higher indegenisation " BEML chairman and managing director D K Hota said after signing the pact.
Sudarshan Sukhani of s2analytics.com recommends buying Mahindra & Mahindra with stop loss at Rs 820 and target of Rs 850, a buy in Mindtree with stop loss at Rs 1020 and target of Rs 1065 and a buy also in Godrej Consumer Products with stop loss at Rs 1090 and target at Rs 1135.
Rajesh Agarwal of AUM Capital recommends buying Bharat Petroleum Corporation with stop loss at Rs 380 and target at Rs 410, a buy in AU Small Finance Bank with stop loss at Rs 690 and target at Rs 723 and a buy also in Infosys with stop loss at Rs 1162 and target at Rs 1206.
Rajesh Agarwal of AUM Capital recommends buying India Cements with stop loss at Rs 136 and target at Rs 146, a buy in BEML with stop loss at Rs 1040 and target at Rs 1095 and a buy also in CESC with stop loss at Rs 1045 and target at Rs 1085.
Bullet train operations are proposed to commence by 2023 between Mumbai and Ahmedabad with the help of Japanese investments and technology and the government had already formed the National High Speed Railway Corporation to execute the project.
"Kawasaki has tied up with Bharat Heavy Electricals Limited, while we have done MoU with Hitachi. Last week I went to Japan and visited Hitachi factory in order to see how much we can indigenise for the project, Hota told reporters, after addressing a convocation at Nirma University.
Prakash Gaba of prakashgaba.com recommends buying Wockhardt with target at Rs 840 and stop loss at Rs 770 while he has a sell on Bank of India with target at Rs 96 and stop loss at Rs 108.
"Nifty has to cross 10,555 levels decisively for further upmove. Sustenance trade above 10,555 marks may add momentum on upside till 10,650-10,670 levels," says RajeshAgarwal of AUM Capital.
Prakash Gaba of prakashgaba.com recommends buying CG Power with target at Rs 84 and stop loss at Rs 81.50, a buy on ITC with target at Rs 275 and stop loss at Rs 265 and a buy also on Jet Airways with target at Rs 680 and stop loss at Rs 630.
It was formally launched by company Chairman and Managing Director, Deepak Kumar Hota at DefExpo being organised by Ministry of Defence at Thiruvidanthai, about 40kms from here.
The aerospace and defence manufacturing hub will come up in Hosur, spread over 600 acres
"BEML has given a breakout from the ascending triangle pattern above Rs 1140-1142 levels on Monday with moderate volumes in the daily scale. The Daily Relative strength index (RSI) is making the higher bottom and higher top and MACD is trading with a positive crossover," says Abhishek Mondal, Research Analyst, Guiness Securities.
"Nifty might face hurdle around 10175 mark. Any decisive break above this level may add momentum on upside till 10260-10300 levels," says Rajesh Agarwal of AUM Capital.