HDIL adds nearly 25 lakh shares in open interest

Housing Development and Infrastructure (HDIL) was down nearly 5.7% with a build-up of about 25 lakh shares on the short side. Tech Mahindra ended down nearly 8% with a build-up of nearly 2.5 lakh shares in open interest. Bajaj Hindusthan ended up nearly 3.5% with a good build-up of nearly 20 lakh shares in the open interest.

Here is a verbatim transcript of Varinder Bansal's comments on CNBC-TV18. Also watch the accompanying video.

The volumes were good today, the total market turnover crossed Rs 1 lakh crore. Also, the rollovers were picking up today, on the Nifty front, we had a done about 27%. 5,100, is the level, where we are seeing the call writing happening in next series; if we just see 5,100 call in the month of February, you will be seeing huge open interest happening in there.

Stock Specific Action:

Bajaj Hindusthan ended up nearly 3.5% with a good build-up of nearly 20 lakh shares in the open interest (OI). M&M ended down nearly 6.2%, the cuts really got deeper after the results came in, we saw huge shorts piling up in the stock and the open interest went up by nearly 10 lakh shares.

The realty midcap pack was the weakest today, Century Textiles ended down nearly 6% with an open interest build-up of nearly 10 lakh shares. HDIL was down nearly 5.7% with a build-up of about 25 lakh shares on the short side.

Technology stocks like Tech Mahindra and HCL Tech were looking weak post results. Tech Mahindra ended down nearly 8% with a build-up of nearly 2.5 lakh shares in open interest.