Markets ended the first trading day of the week on a firm note.A stellar rally was seen across the metal stocks after the government decided to slate a minimum import price (MIP) for steel in order to prevent cheap imported steel from flooding the market. The Sensex surged 217 points to end at 25,736 and the Nifty climbed 73 points to end at 7,834.
Nifty December 2015 futures closed at 7841.45 on Monday at a premium of 7.00 points over spot closing of 7,834.45, while Nifty January 2016 futures ended at 7871.10 at a premium of 36.65 points over spot closing. Nifty December futures saw contraction of 0.08 million (mn) units, taking the total outstanding open interest (OI) to 18.53 million (mn) units. Highest open interest has been seen in 8000 and 7900 strike price for call option and in 7700 and 7800 strike price for put option.
Stock Future Tips For Tomorrow
Buy ONGC Future above 231.5, Targets are 234.5, 237.5 and 240.5, Stop loss at 225.5
Buy HDIL Future above 73, Targets are 75, 77 and 79, Stop loss at 69 points
Buy RCOM Future above 84, Targets 85.7, 87.4 and 89.1, Stop loss 80.6.