There was huge volatility in the F&O space. After a long time one is seeing Put writing happening in the 4,700 level reports CNBC-TV18's Varinder Bansal. On the Nifty front we saw short covering happening and the premium has jumped from 6-7 points to around 12 points. Of course Nifty was up nearly 55 points and there was huge turnover at around Rs 22,000 crore.

We saw good Put writing happening at 4,700 which is a good sign for few days to go that people are considering that 4,700 in the near-term could be the level they are watching out for.

Stock Specific Action:

Two stocks which were the highlight of the day were Suzlon and IFCI. Suzlon ended up 13% and in the last few days we were seeing huge short positions which are built-up in the stock but today there was long built up seen on the stock. The stock added 50 lakh shares and the stock was up nearly Rs 7 with a good turnover of nearly Rs 600 crore.

IFCI on the back of stake sale news was up nearly 15% with a good built up of nearly 31 lakh shares seen on this stock.

The kind of open interest build up that HDIL has seen is tremendous.The stock was up nearly 6.5% with a build up of nearly 14 lakh shares on base of 50 lakh which is nearly 38% build up in a single reading session.

Reliance Capital shot up nearly 10% intraday – the stock saw a buildup of 7 lakh shares on a base of 60 lakh shares which means nearly 12% build up on it.

Major telecom stocks like Bharti, Reliance Communication saw huge short covering happening. Reliance Communications was up 5%. We saw a cut of nearly 8 lakh shares on the stock and ditto was the case with Bharti Airtel.