Market Update: Market ended lower with the Nifty50 settling at 9,400 as investors turned cautious ahead of inflation data and booked profits in recent outperformers. Consumer price inflation (CPI) is expected to have eased to a three-month low of 3.49% in April from 3.81% the previous month, according to Reuter’s poll. The government will also unveil the new series of Index of Industrial Production (IIP) as well as Wholesale Price Index (WPI), with 2011-12 as the base year, later in the day. The Sensex ended at 30,188, down 62 points, while the broader Nifty settled at 9,401, down 21 points. The broader markets underperformed benchmarks, with the BSE Midcap and Smallcap indices falling half a percent each on weak breadth. The BSE Midcap and the S&P BSE Smallcap indices tanked 0.7% and 0.8% respectively. OI increase with respect to increase in price was seen in IDEA and Increase in OI w.r.t Decrease in price was seen in ORIENTBANK. 9500 CALL &9300 PUT showing the highest Open Interest.
BUY MCDOWELL-N FUTURE ABOVE 2205 TARGETS 2215, 2225, 2235 STOPLOSS 2185
SELL ORIENTBANK FUTURE BELOW 158.50 TARGETS 157.50, 156.50, 155.50 STOPLOSS 160.50