Nifty futures trading at discount of 29-30 pts

BSE | NSE 10/02/12

CNBC TV 18, Research Analyst, Varinder Bansal :

There are plenty of actions which are happening in the single stock futures, but on the futures side around 30% volumes coming from the Nifty futures and the discount is around 29-30 points. We have seen an addition of 10 lakh share in the open interest which is a bit somber.

 

The important thing is that the 4000 put is adding open interest and that seems to be a very good support level for the market and also we have seen 1.5 lakh shares being added. But on the upper side its 4300 and 4400 call where we are seeing huge call writing happening in. Stock specific, real estate has to be one of the sectors where we have seen a lot of action today and Unitech would be one stock to watch out for. The stock is down nearly 2% and has seen addition of nearly 10 lakh shares in the open interest and has seen the cost of carry come into negative, if you remember yesterday the stock was trading in the positive cost of carry and there is some profit booking seen in Unitech.

 

Suzlon is down nearly 5% and that, an addition of 6.5lakh shares that came up when the news came in that it has to pay additional payment to some of its clients and the stock again, if you see the cost of carry is in the negative territory .Tata Steel is up 2% and lots of buzz which is going around in the market and also there is a dividend portion, if you just see the CoC which is hugely Rs 15 in the negative. The stock has seen a good turn over today nearly 250 crore and the stock is up nearly 2% as you said.

 

Nagarjuna Fertilizers and most of the other fertilizer stocks have seen unwinding today. The stock is down nearly 2% and has seen a cut of nearly 5 lakh shares in the open interest and also the CoC is in the positive territory and it is pretty small around 20 crore seen on Nagarjuna fertilizers.

 

One stock that we told to keep you on Canara Bank, the stock saw nearly 50% of interest build up yesterday and the stock is seeing some short covering today and the stock is up nearly Rs 2 and Rs 3 in the spot market and the cut of nearly 1.5 lakh shares in open interest, a bit of short covering seen in Canara Bank.