CNBC-TV18',s Research Analyst, Anichya Shah : Turnover remains kind of low in terms with what we saw in yesterday’s trading session not a whole lot seen there. What is very interesting is that a lot of technical analysts alluded to support levels emerging just below that 5,100 level and what we are seeing is as the cash level goes at 5,100 level there is some bit of long build up in the Nifty. 13 lakh shares have been added and that premium is inching up, it was at about 5-point premium currently near that 5,100 level on the cash market the premium inch up. So some bit of long build up around these levels has been seen in the Nifty.

We have seen some bit of leverage coming off the table in all these momentum stocks, so stocks like Nagarjuna Fertilizers, Chambal Fertilizers, TTML have been seeing unwinding since the last two trading sessions since Monday. It continues to do so today, so some of the open interests build up over the previous two weeks is being continued to take off the table.

Nagarjuna Fertilizers shedding about 4.6 lakh shares, TTML is another such starting example. The three spaces that are looking extremely strong one on the back of strong crude prices we are seeing Cairn India go from strength to strength, open interest has build up significantly, 8 lakh shares have been added there, holding a pretty strong premium.

TCS from the IT space continues to live in terms of short covering, share closed to about a lakh shares and open interest is up about Rs 33 in the spot market and the metal space which is holding up the markets to some extent has seen the big boy Tata Steel at a fair bit of open interest, 6.6 lakh shares and up about Rs 15 in spot market.