Reliance Comm adds 17 lakh shares in OI

By Anichya Shah, CNBC-TV18

Turnover did reduce in today’s trading session yesterday one saw 68,000 crore on the F&O space. Today down to about 57,000-58,000 crore tentative day of trade and there was a pretty much mix of everything there was some bit of long build up, selective long build up, some largecap saw fresh shorts being initiated, a bit of unwinding and a bit of short covering so it is a mix of everything in today’s trading session.

If you look at Nifty one did see some fresh shorts getting initiated at that 4,500 mark which is why one saw that premium come down a wee bit. Yesterday it had actually gone to about 20-points premium, today we close the day at about 10-11 points premium. Rollovers pick up a wee little bit, one can see August futures still is trading at par and one would see a mix of short rollovers and long rollovers as both are trading at par and rollovers are at 20% on the Nifty.

Stocks Specific Action:-

The usual cement stocks saw rollovers pick up like India Cement and Grasim but this is a trend that one is seeing for the last 3-4 months. One positive on the Nifty is however I would like to mention is 4,300 and 4,400 Puts continue to add a bit of OI and therefore 4,400 was not decisively breached and has contiued to act as a strong support levels.

In stocks specific action Nagarjuna Fertilizer and Chambal Fertilizer looked extremely strong. Nagarjuna was up about 14% and one could see there was about a 24% OI build up in the July futures and therefore it ride a fair bit.

Nalco was up about 7% with about a 17% OI build up in the July futures and rallied a fair bit.

GNFC was up about 9% and was driven up primarily by a fair bit of short covering in today’s trading session, which is why one has seen net-net cut in OI.

TCS saw a whole bunch of fresh shorts come in and was down about 7% with about 13% OI build up in its July futures and giving it company in short build up was RCOM and even Bharti from the telecom space saw a short build up. So one can see RCOM net added about 17 lakh shares in OI and is down Rs 24 in the spot market.

Tata Steel also in the later half of the trade added some more shorts and was down about 5.5% one can see both July and August in a bit of a discount and 11 lakh shares was a net addition in that and we saw some bit of unwinding in Polaris some long unwinding there net-net current OI down Rs 3.