Nifty July futures trading at discount of 50-51 points

CNBC-TV18, Research Analyst, Anichya Shah : It seems to be some sort of a broad range 3,800 puts the July puts have been pretty active, one of the highest outstanding open interest positions, so we saw a build up significantly at 3,700-3,800 and even the 3,900 level, towards the end of the day it added a fair bit of open interest on the put side. So these seem to be sort of intermediate support levels for the market but one can never call those. 4,000-4,100 calls were pretty active; it seems like traders were playing the upside by buying calls. You can see the Nifty July futures are still above 50-51 point discount, so shorts were continued and hedges still remain in the Nifty futures; 35 lakh shares added there.

Siemens looked extremely strong in today’s trading session, up about 13.5% net 2 lakh shares added in open interest generally an illiquid stock today this was a good 11% open interest build up.

HCC was up about 12.5% so about 10-11% open interest build up. That looked extremely strong in today’s trading session.

Nagarjuna Constructions and Nagarjuna Fertilizers both these stocks saw huge open interest build up. NCC added about 42% in terms of open interest build up and even Nagarjuna Fertilizers saw about 30% open interest build up and 37 lakh share build up there, both saw a good long build up for up about 3%.

Essar Oil was up about 9%, there was a big open interest build up of about 15 lakh shares and that cost of carry surged towards the latter half of trade and one space where we did see shorts continue throughout today, continue to feel the fair bit of pain was the big boy Tata Steel saw fresh shorts to the tune of 7.2 lakh shares. It was down about Rs 17, the discount is on account of a bit of a dividend effect but net-net there were fresh shorts seen in this counter.