CNBC-TV18, Research Analyst, Anichya Shah : Turn over remains pretty low on the F&O space, only about 14,000 to 15,000. That’s primarily on account of today being mainly a short covering rally and most of these counters that had seen shorts build up in last 2-3 sessions for the market looked a little weak, have been driven up by short coverings and lack of any sell orders on the higher side and impact losses caused pretty significant rallies. If you look at the Nifty May, not a whole lot that is happening, you can see turn over pretty subdued close to about 5,000 crore, only about 10 lakh shares have been added and not a whole lot and it has been in that 5-10 point premium today and not major cues coming out of these but we have seen some bit of option building up and put writing at the 4900-5000 level if that could be used as some support for the market.

The stocks that have seen a fair bit of short covering Nagarjuna Fertilizers, second day in a row shed about 7 lakh shares today up marginally in the cash market inching into a bit of a premium. Kotak Mahindra Bank, look out for these stocks that have seen a short build up has added about 21% of open interest over the last week and shares gone down about 13 percent so today it was a candidate for short covering you can see it shed about 67  thousand shares up about 3% and inching into a bit of a premium and NTPC from the power space is looked pretty strong and it added about 3 lakh shares along with power grid both are holding a smart premium and are up a bit in the cash market as well. Cairn India has come into a fair bit of a pressure; it has been seeing open interest build up on the long side in the past few trading sessions and today slightly with a short bias, 11 lakh shares have been added down and 6% in the spot market but Dena Bank is looking a little smart in the bank space we can see inching to a bit of a premium there about 0.7% of a premium about 3.6 lakh share have been added and it is up fair bit in the spot market.