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Saturday, 4 February 2017

Nifty Future Tips For Tomorrow (6th February)

The benchmark indices on Friday ended flat as investors preferred to stay on the sidelines ahead of the Reserve Bank of India's policy meeting next week. The BSE Sensex settled the day at 28,240, up 14 points, while the Nifty50 quoted 8,740.95,up 6.70 points at close.

In the broader market, BSE Small-cap index outperformed the front line indices and BSE Mid-cap to gain 1%. BSE Mid-cap added 0.6%. 

Nifty February 2017 futures closed at 8754.35 on Friday at a premium of 13.40 points over spot closing of 8740.95, while Nifty March 2017 futures ended at 8780.50, at a premium of 39.55 points over spot closing. Nifty February futures saw a contraction of 0.17 million (mn) units, taking the total outstanding open interest (OI) to 21.48 million (mn) units. The near month derivatives contract will expire on February 23, 2017.

Highest open interest has been seen in 8700 and 8900 strike price for call option and in 8500 and 8600strike price for put option. 
Call put Tips For Tomorrow (6th February)

Buy Dr.Reddy's Laboratories Ltd Future above 3165 Targets: 3185, 3205, 3225 Stop loss 3125.

Sell Dewan Housing Finance Corporation Ltd. Future below 296.5 Targets: 295, 293.5, 292 Stop loss 299.5.