It was going strong for the market. The Nifty was up nearly 3.5%; good build-up was happening in most of the futures and options stock. Sesa Goa was up nearly 4% with a good build-up nearly 11 lakh shares in open interest, which was nearly 15% for the stock.

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

It’s going strong for the market - Nifty up nearly 3.5%; good build-up happening in most of the Futures and Options stock. The put call ratio (PCR) is jumping from 1 to 1.1, we have seen a level of 0.8 in the recent days but we are seeing that 4,200-4,300 are the marks where huge put writing is seen and that has come into effect since last two-three days. Importantly auto is one segment which is leading the pack; count on any stock M&M, Tata Motors are all buzzing. We have seen some of the stocks hitting their lifetime highs.

Today Tata Motors is very active; the stock has moved up from a level of around Rs 260 to around Rs 315 and is up nearly 7% today with a good build-up happening nearly 10-11%, but there is also cash base buying in this stock.

Another stock to watch out for is Sesa Goa; the stock is up nearly 4% with a good build-up nearly 11 lakh shares which is nearly 15% for the stock.

JP Associates which is buzzing up nearly 5%; lost its ground midway but have has recovered. We are seeing build-up of nearly 11 lakh shares happening on the stock which is around 11%, we are seeing turnover of nearly 200 crore in JP Associates, so good build-up happening in the stock futures segment.