CNBC-TV18's Head-Markets Research, Anuj Singhal - The action over last couple of days has been quite explicable. Nifty is finding it extremely tough to move up after having rallied a good 15% from its recent lows. At the same time, with absence of any bad news, there has been no derailment of rally either. So now we are at a stage where the Nifty is at an equilibrium point of 5200. Both the Puts and Calls added around 4 lakh shares in Open Interest with a premium of Rs 130 each.

There has been a bit of tiredness in Stock futures also. After adding Open Interest at the rate of knots, we saw no change in OI yesterday. Of course, there were still stocks like TTML which added significant Open Interest but a lot of stocks which went up actually saw OI reduction, suggesting some players booked profits at higher levels .

Fertiliser stocks looked good in late trade and rally may resume in stocks like Chambal Fertilisers, so one needs to watch out for these. Also on

the radar should be DLF and Praj Industries. Allahabad Bank was very curious. It rallied 6% but the futures slipped into a good 2 Rupee discount presenting some reverse arb opportunities

DISCLAIMER: The author is not allowed to trade in equity markets including Futures and Options. His only exposure to capital markets is via shares of TV18 and Network18 granted to him as ESOPs by the company and investments in some long-term mutual funds.