Nifty Futures
Nifty index shut shop at 5486.35 with the losses of 58.40 or 1.05 %.
The Nifty May future finally settles at 74.30 pts or 1.34% lower at 5484.60 and added 27, 81,200 shares in the open interest.
The Nifty future premium turned down to the discount of 1.75 from the premium of 14.15 whereas cost of carry is -1.94 vs. +7.17. Nifty future shown some recovery due to short covering but it still trading in the bearish zone and if fails to cross the level of 5538 then selling pressure may continue in it.
Bank Nifty Futures
Bank Nifty index shut shop at 10,664.10 with the losses of 356.85 or 3.24 %. The Nifty May future finally settles at 366.50 pts or 3.32% lower at 10,666.25 and added 1, 41, 125 shares in the open interest.
The Nifty future premium narrowed to 2.15 from 11.80 whereas cost of carry is +1.23 vs. +3.01. Bank Nifty future shown some recovery due to short covering but it still trading in the bearish zone and if fails to cross the level of 10,745 then selling pressure may continue in it.
Nifty may trade in range of 5350-5625
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