Nifty May future (7491)
There is a buzz of excitement in the market right from the opening bell, with investors keenly awaiting the announcement of Narendra Modi’s Cabinet. Both the Sensex and the Nifty opened with an upward gap and this gap remains open.
Nifty May futures opened at 7,450 and surged 113 points or 1.5 per cent from its pervious close of 7382.1. However, after marking an intra-day high at 7513, the Nifty futures are pausing for breath around 7500. With the derivative expiry scheduled for this Thursday, the gap between Nifty spot and future has narrowed to 10 points.
Resistance 7514/ 7550
Support 7457/7400