For the last two days there has been huge unwinding in the stock futures. However, today there has been a minor build up , especially in some high beta stocks. The Nifty Futures is trading around three point premium adding only 6.5 lakh shares on the base of 3 crore, which is very less.

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

In the Nifty Mini Futures, we have seen short covering which has happened here. The total open interest (OI) has gone down by 20% in a single trading session. This momentum was seen in some of the high beta stocks

A huge unwinding happened in Suzlon and nearly 60 lakh shares got cut. We are now seeing fresh shorts opening up. Addition of nearly 85 lakh shares on Suzlon is now seen and the stock is down by nearly 5%.

In Unitech there was some unwinding. Now we are seeing some build up happening at lower levels. We have seen addition of nearly 17.5 lakh shares in the stock and the stock is up nearly 4%.

In Hindalco we saw fresh shorts. There is fresh build up happening on the stock addition of nearly 11 lakh shares is seen on the stock in up nearly 4%.

Sesa Goa has been under pressure for the last few days but today it’s looking fine. It did nearly 10 lakh shares. There is more cash based buying which is happening currently because of the huge discount which is there and the stock is up nearly 20 points.