The Equity benchmark indices retreated on Tuesday from four-month highs hit in the previous session as investors stayed on the sidelines ahead of the RBI’s policy decision due tomorrow. The BSE Sensex settled the day at 28,335, down 104 points, while the broader Nifty50 was ended at 8,768.30, down 32.75 points. In the broader market, the BSE MidCap and the BSE Small-Cap indices outperformed. Midcap closed 0.2% lower. Nifty February 2017 futures closed at 8785.55 on Tuesday at a premium of 17.25 points over spot closing of 8768.30, while Nifty March 2017 futures ended at 8812.10, at a premium of 43.80 points over spot closing. Nifty February futures saw a contraction of 0.28 million (mn) units, taking the total outstanding open interest (OI) to 21.56 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 8600 strike price for put option.
BUY INDIACEM FUTURE ABOVE 166.8 TARGETS 168 , 169.2 , 170.4 STOPLOSS 164.3
BUY IDFC FUTURE ABOVE 57.6 TARGETS 57.9 , 58.2 , 58.5 STOPLOSS 57
SELL FEDERALBANK FUTURE BELOW 82.6 TARGETS 82.2 , 81.8 , 81.4 STOPLOSS 83.4