The benchmark indices settled the day at their respective closing highs with Nifty ending above 9,400 for the first time ever as IMD’s new monsoon forecast raised prospects of higher agricultural and economic growth, cheering the investors. The S&P BSE Sensex settling the day 315 points higher at 30,248 while the broader Nifty50 was ended at 9,407.30, up 90.45 points. Both indices hit their last closing highs on May 5 2017. Nifty May 2017 futures closed at 9419.20 on Wednesday at a premium of 11.90 points over spot closing of 9,407.30, while Nifty June 2017 futures ended at 9416.45, at a premium of 9.15 points over spot closing. Nifty May futures saw an addition of 1.29 million (mn) units, taking the total outstanding open interest (OI) to 20.66 million (mn) units. Highest open interest has been seen in 9500 and 9400 strike price for call option and in 9300 and 9200 strike price for put option.
Nifty Future Tips for Tomorrow (11th May Thursday)
BUY HAVELLS FUTURE ABOVE 507.5 TARGETS 509.5, 511.5, 513.5 STOP LOSS 503.5
SELL MINDTREE FUTURE ABOVE 499 TARGETS 495.7, 492.4, 489.1 STOP LOSS 505.6
BUY INDIACEM FUTURE ABOVE 216 TARGETS 217.2, 218.4, 219.6 STOP LOSS 213.6