The Benchmark indices settled the day at 4-month high as investors bet RBI will cut interest rates in their policy review meet later this week. The BSE Sensex settled the day at 28,439, up 199 points, while the broader Nifty50 ended at 8,801.05, up 60.10 points. The positive sentiment lifted Nifty Midcap and Smallcap indices higher by 1.1%and 0.9% respectively, to their record highs. Nifty February 2017 futures closed at 8816.60 on Monday at a premium of 15.55 points over spot closing of 8801.05, while Nifty March 2017 futures ended at 8843.60, at a premium of 42.55 points over spot closing. Nifty February futures saw an addition of 0.36 million units, taking the total outstanding open interest to 21.85 million units. The near month derivatives contract will expire on February 23, 2017. Highest open interest has been seen in 8800 and 9000 strike price for call option and in 8600 and 8700 strike price for put option.
Nifty Call Put Analysis For Tomorrow (7th March 2017)
BUY IOC FUTURE ABOVE 384.5 TARGETS 386, 387.5, 389 STOPLOSS 381.5
BUY GAIL FUTURE ABOVE 485 TARGETS 487.7, 490.4, 493.1 STOPLOSS 479.6
BUY AXIS BANK FUTURE ABOVE 502 TARGETS 505.5, 509, 512.5 STOPLOSS 495