Nifty futures has rolled around 72% vs 69% with respect to last month, and the open interest for the new May contract is also higher by around 31 lkh. Huge long rollover was seen in Nifty futures on the day of expiry vs previous four days. We expect more short covering in Nifty futures to happen once 10740 level is crossed. The range for Nifty might be at 10400-11000 and Banknifty at 24300-26500 for May series.