CNBC-TV18's, Research Analyst, Anichya Shah : There are pretty negative cues from the F&O space considering there was a fair bit of 5,000 call writing. In yesterday’s trading session 4,800 seem to act as a big support lot of 4,800 put built-up, 4,900 put built-up. Today 4,900 put built-up was there but significantly in the last half an hour of trade there was some bit of call writing and one could see Nifty did slip into a discount after four-five trading sessions as there was a significant amount of short build-up especially when they broke 5,000 mark and that’s why from about 5-6 premium.

At the beginning of the day trade was pretty quiet in the morning; we saw open interest built-up of about 27 lakh shares on the short side overall turnover continue to remain pretty low in today’s trading session not too much write to home about 30,000 crore started a day off with a fair bit of short covering. Lot of long trade as well booking their profits at slightly higher levels but as trade turn negative that long unwinding cause a lot of these stocks to go into negative territory and into a discount.

Nagarjuna Fertilisers and Chambal Fertilisers are two such examples where there was fair bit of long unwinding where both those stocks were down after pretty good rally over the last few trading session.

RPL was another stock that saw fair bit of long unwinding adding further downwards pressure on to the stock causing, it will go into steep discount as well.

Polaris is another stock from the IT space; IT and oil and gas were holding this index up and we saw profit booking in IT stocks so Polaris on to some unwinding there, slipped into a discount, was down in the spot market.

Cairn continue to see open interest build-up but this time the short bias 12.4 lakh shares were added today but more towards the short side as it was down about Rs 24 closing near the low point of the day and going into bit of a discount.

Orchid Chemicals some bit of positive news in that front was driven up by a fair bit of short covering in today’s trading session.