The markets had a sluggish closing on the last day of May derivatives series due to selling pressure in financial and pharma shares. The weakness in most Asian markets, muted corporate earnings and growing prospects that the Federal Reserve may raise interest rates led to cautiousness on the Street.
Nifty May 2015 futures expired at 8317 on Thursday at a discount of 2 points over spot closing of 8,319.00, while Nifty June 2015 futures ended at 8318.55 at a discount of 0.45 points over spot closing. Nifty June futures saw an addition of 2.80 million (mn) units, taking the total outstanding open interest (OI) to 12.97 million (mn) units.
Highest open interest has been seen in 8600 and 8400 strike price for call option and in 8300 and 8200 strike price for put option.
Trading Tips for Tomorrow
# Buy Syndicate bank 115 Call june above 4.50 Targets 6.50 stop loss 3.
# Buy Jindal Steel 120 put june above 8.50 Trargets 12.50 stop loss 5.50.