By Varinder Bansal, CNBC-TV18

Volumes are much greater on the first day of the new series than to what we saw in the last week of expiry. The Nifty future is showing great strength here, and we are seeing the long build up which is happening and also the premium of around 2 points in the morning is hovering and has increased to around 10 point. 32 lakh shares being added earlier in the Nifty futures, importantly in the options side, 4300 remains a very important support at the market and there is good put writing happening at 4200 levels. On the upside, continuously 4500 remains the level where people are facing resistance and that is why 4500 is seeing some call writing happening.
 
In the momentum stocks list, RNRL, RPL or Ispat, most of the stocks are adding a huge open interest.
 
The sugar pack is very interesting today, Balrampur Chini is up nearly 4% in the open market and also the Cost of carry, which is turning, in the positive territory and it has added nearly 16.5 lakh shares in the open interest. 
 
SAIL and some of the metal stocks have looked very interesting since a last few days. Some cash buying happening in the market that is why you can see that the cost of carry is in the negative territory. SAIL is up nearly Rs 3 in the spot market and added around 8.5 lakh shares in the open interest. 
 
JP Associates has been dragging down, the stock has gone down from levels of around Rs 200 to as low as Rs 155. The stock has been recovering and it is up nearly Rs 6 in the spot market and added nearly 8 lakh shares and good to see that the cost of carry is in the green territory.
 
Today’s run up has most to be connected with most of the banking stocks and SBI is leading from the front. The stock is up nearly Rs 80 in the spot market and seen an addition of nearly 5 lakh shares happening and the cost of carry happening at around Rs 10 is in the positive territory.
 
Some of the stocks like IndiaBulls real estate took most of the investors by surprise as the stock is up nearly 10% in the spot market and there was a long build up happening in the morning but we are seeing that there is now a bit of a short covering which is happening and the stock has shed around 37,000 shares in the open interest but importantly the turnover is lower on Rs 50.35 crore on Indiabulls and there are long build ups happening in most of the momentum stocks.