B.Com Scope

B.Com (H) is the most popular course. You can pursue a range of career options after B.Com.
1. If you are graduating from colleges like Shri Ram College of Commerce, you can easily secure a job at MBB or buldge bracket Investment Bank. Placements usually aren't a problem in that college.
2. You can write the CAT and look to pursue an MBA in India.
3. You can pursue CA and complete your articleship.
4. You can apply for a Masters at a foreign university or to the Delhi School of Economics.
5. You can sit for the UPSC examinations/the banking entrance tests, etc.
6. You can switch careers and do law/journalism/public policy, etc.
7. You can travel/ take a gap year to figure out what you want to do in life.

Very easy. Look at the chart and make a buy or sell call. Because no one can prove you wrong in irrespective of the outcome. If price moves with your prediction, you are the boss. If price goes against you, you were taking contrarian call.
Recent nobel prize winner Eugene Fama got this award for proving this very point. Search for LTCM on google. You will get a case history where nobel prize winners thought they could predict the market and lost many Billions in few weeks. If someone is telling you that there is a way to predict which way market will go, he is making a fool of himself and please stay away from such fools.
Don't believe me. Follow any business news channel for one month. Lot of technical analyst presents their view. Invariably you will find half of them saying going down and other half saying going up. Simultaneously you can do an experiment at home. Daily morning anytime during the day, toss a coin. Head -- Goes up. Tails--- Goes down. Compare with market movements. You will do better than analysts.
Look at the analysts award presented by Zee. In 2012 and 2013, you will be surprised to see that hardly anyone from the list of winners in 2012, appear again in 2013. Do they become fool after receiving awards? Of course not. Because they were not right in the first place. They were plain lucky in 2012. Luck ran out in 2013 and someone else's guesses were much better in 2013.

Dear Nikhil!
You are in right direction. Yes, you can absolutely pursue MBA from any govt. institutions (I am not sure about private) after B.Com (H) from open, provided you need to clear cut-off and their GD/PI round. Now, come on to your 2nd query. As per me, that any college always prefer a full time graduate student (means going college regularly) rather than open students and you know very well, why! I am not demotivating you but that's the truth that they will shoot some questions that why you did your B.Com from open? Etc. but apart from these you can have a better representation if you impress them in interviews. It is totally no harm in doing B.Com from open but yes, it will be quite beneficial for you if you had your graduation from IPU in BBA because BBA is connected with MBA. So, at last, Nikhil! I would just suggest you that if you are thinking for MBA means you want to enhance your career but since you have did your graduation from open (which is less preferred). I think, first, go to gain some work experience for 2 or 3 years and then apply for MBA (it will give you a plenty of time to prepare for CAT-MAT or GMAT) it will give you a slight edge over other students from regular college.
I can understand that this answer is really too long to read but I hope that you found this helpful! Any query? Ask me anytime!
Best of Luck!