Ambuja Cement adds 10 lakh shares in OI

CNBC-TV18 research analyst, Anichya Shah has given F&O highlights:

There was weakness seen the F&O space as a lot of individual sectors are really selling off and few sectors that are rising up primarily driven by a fair bit of short covering. 4,800 PUT continues to see a fair bit of unwinding, close to 10 lakh shares in OI have been shed. It has given way to buildup in the 4,800 call acting as a resistance on the upper end and 4400 PUT continues for the third day in a row to see a huge OI buildup.

Nifty is seeing some bit of hedges as usual. Continue to enter the system at higher level not a whole lot - 15 lakhs is not a whole lot on a 4 crore base, so some bit of hedges on the higher side.

SAIL is very interesting where the 160 Call, the current month call has suddenly seen a huge 14.7-lakh shares OI buildup. This is on its total OI buildup of about 18 lakh shares. So that could be one key level to watch out for, about a 430% OI buildup. Pretty quite on the futures space though.

Ambuja Cement along with the other cement pack has been seeing huge shorting. One can see about 10-lakh shares have been added there on the stock and is down a fair bit in the spot market - that’s about 10% OI buildup.

HPCL with the other oil marketing companies have sold off below their 15 May levels where they started the rally from and about 4 lakh shares have been added there and the stock is down a fair bit.

The sugar space led by Shree Renuka and now even Triveni Engg have sold off a fair bit - down about 10% with huge OI buildup of about 15% on the short side.

NTPC and the entire power space that saw a huge amount of shorting over the last week or so has been driven up by some bit of short covering.