Consistent unwinding seen in sugar sector

CNBC-TV18's, Research Analyst, Varinder Bansal : There is nothing much happening on this side also. There are two major strategies which are being played in the market where people are buying 5,000-5,100 call and they are shorting Nifty Futures in terms to hedge and also on the other hand one seeing people actively trading 5,100 strudel by paying around Rs 175 - that is the basic reason that we are seeing consistent discount on the Nifty as people are shorting but also they are buying 5,000-5,100 call.

HCC is one stock where one is seeing good buildup today and one can see that the CoC is inactive which means that the cash buying is happening and same is the case with PNB which is continuing its trend from yesterday’s trade which the stock has seen a built-up of nearly 3.5 lakh shares and again the CoC is negative which suggests that there is cash buying happening.

But there are some stocks which are seeing long positions buildup in today's trade. HDIL is one such stock where we are seeing around 3.5 lakh shares building up in the F&O. Suzlon is one interesting stock where the stock has seen around 4.14 lakh shares buildup. GMR Infra is one stock again where we have seen a buildup of nearly 2.85 lakh shares - very meager in terms of if one sees the base of around 2 crore shares and also some of the refinery stocks like Bongaigaon Refinery and Chennai Petro where we have seen built-up of long position. Bongaigaon has seen a buildup of 2 lakh shares.

SAIL is another interesting stock as prior to the result they was short covering which has happened in the stock and the stock has shed nearly 7 lakh shares and the stock is up nearly 2-3% in the day’s trade.