Satyam adds 10 lakh shares in open interest

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Satyam adds 10 lakh shares in open interest

Very low turn over today and it has been a case since last 2-3 days, we are seeing continuous Call writing happening at 3000 and 2900 mark. Satyam has build up of nearly 10 lakh shares in open interest.

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

Very low turn over today and it has been a case since last 2-3 days, we are seeing continuous Call writing happening at 3000 and 2900 mark and very aggressive Call writing and it is adding 13 lakh shares in open interest. 2900 Call is adding 10 lakh shares in open interest, so there is a band of resistance which is around 2900-3000 level and that is getting darker as the days are progressing.

We saw PCR coming down from 1.5 to as low as 1.12 and it has come down to as low as 1 in today's trade and we are seeing that there is nervousness which is coming into the market.

Satyam has to be stock of the day with an open interest build up of nearly 10 lakh shares; the stock has taken support at around Rs 130 levels is seeing some build up happening in anticipation of some deal announcement which could come in few days.

SAIL has looked stronger since morning; the stock is up 5.5% with a build up of nearly 8 lakh shares.

Auto pack is weak today; Tata Motors stock is down nearly 7% and has added 6 lakh shares in open interest.

Some for the airline stocks have been active in the recent sessions, today Kingfisher Airlines is up nearly 2-3% but we are seeing short covering happening in the stock with a cut of nearly 2.5 lakh shares in open interest.

But we have to say that its Satyam's day today as huge buildups in the stock.