Market ended over 2% lower after witnessing a sharp recovery from day’s low, tracking a meltdown in global stocks after Britain in a historic referendum voted to exit the European Union. The Sensex lost 2.2% or 605 points to end at 26,398, while the Nifty50 index plunged 2.2% or 182 points to close at 8,089.
Nifty June 2016 futures closed at 8086.90 on Friday at a discount of 1.70 points over spot closing of 8,088.60, while Nifty July 2016 futures ended at 8118.35 at a premium of 29.75 points over spot closing. Nifty June futures saw contraction of 0.24 million (mn) units, taking the total outstanding open interest (OI) to 15.88 million (mn) units.
Highest open interest has been seen in 8200 and 8100 strike price for call option and in 8000 and 7800 strike price for put option.
Stock Future Tips for Monday
Buy Petronet Future above 292.5, Target 295, 297.5 and 300, Stop loss at 288.5
Buy ALBK Future above 65.1, Intraday Target at 66.7, 68.3 and 69.9, Stop loss at 61.9
Sell M&M finance futures below 305.5, Stop loss at 308.5, Target at 303.5, 301.5 and 299.5
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