F&O check: MphasiS up 5%, adds 11 lakh shares in OI

Some buying was happening in MphasiS and HCL Technologies from the midcap technology pack. MphasiS ended up nearly 5% with and open interest (OI) build-up of nearly 11 lakh shares. CNBC-TV18's Varinder Bansal reports.

Here is a verbatim transcript of his comments on CNBC-TV18. Also watch the accompanying video.

The F&O turnover has been in excess of 1.5 lakh crore. It was a volatile session. The rollovers picked up in the later part of day. We manage to cross over 70% mark. It auto, textiles, metals and banking we have seen the strongest rollovers. There is accumulation is happening at 4,800-4,900 mark and most of the option players are playing on that if Nifty sustains over 4,150 mark then there could be upside and the lower side is 4,600-4,700 put where we are seeing writing happening in.

Stock specific:

It was stocks which didn't deliver their results were punished badly. Aban Offshore ended down 7.5% where we saw open interest going up by nearly 10 lakh shares in February. Indian Overseas Bank had dismal results. The stock ended down nearly 5.5% with an open interest build-up of nearly 15.5 lakh shares in the month of February.

Oriental Bank of Commerce is very interesting because the worst was seen in some of the public sector undertaking (PSU) bank ahead of the credit policy and OBC ended up 8.5% where we saw build-up of 5 lakh shares in the month of February.

We were seeing some buying happening in MphasiS and HCL Technologies from the midcap technology pack. MphasiS ended up nearly 5% with and open interest build-up of nearly 11 lakh shares.

Ispat had seen huge build-up in the month of February. The stock was up 1% but we saw build-up of over 3 crore shares in the month of February on this stock. This could be one stock to watch in February.