TVS Motors lead the auto pack today

CNBC TV18's Research Analyst Anichya Shah : Taking an all important pause before that all important FOMC meet, we saw the turnover slightly muted as compared to yesterday’s strong rally. It was about 33,000 crore to be precise on the ending. On the Nifty we did see some bit of long build up towards the end of trade how ever and those longs which were initiated day and yesterday did not get unwound so most of the traders seems to be taking their  bets on the Nifty and choosing to unwind a lot of those momentum stocks instead, we did see how ever a fair bit of put writing at the 5,000-5,100 and especially at the 5,200 which is why we have seen the PCR go somewhere to that 1.4 mark, and inch up a bit on account of a bit of some put writing.

Stocks which were buzzing, Praj was definitely the stock of the day we saw huge rally in this stock up Rs 25 in the spot market good open interest build up of about 20 lakh shares holding a pretty strong cost of carry.

Purvankara after its results were in line with expectations saw a pretty strong ride, a lot of shorts having build into the real estate space so any positive surprise or results in line are leading to some bit of a short squeeze, not a whole lot of change in open interest because a bit of a short squeeze or a long build up but the turnover is pretty brisk and you could see into a fair  bit of a premium.

TVS Motors lead the auto pack today, pretty strong 12 lakh was the open interest addition there, owning a pretty strong cost of carry and you could see Rs 4 movement on a Rs 43 stock, indicated that it did rally a fair bit.

RNRL was another stock that looked pretty weak in today’s trading sessions saw a huge open interest build up as I mentioned, momentum boys saw a bit of unwinding about 30 lakh shares and 10 percent of open interest being shed, CoC did come out on this stock, same was the case with IFCI, it saw some bit of a profit booking and the fertilizers is Nagarjuna Fertilizers specifically saw some bit of a long unwinding continuing from yesterday’s trading session.