Nifty Slips Below 23,300, 1% Market Fall! Heavy Short Build-Up Shakes Market Momentum | ET Now

Added: 2026-06-03

[00:00:00]But, uh let's switch back to markets and uh what are the F&O cues indicating, Sugit?

[00:00:05]>> I know we we are seeing a almost a 1% uh uh fall on the index with the Nifty being below the 23,300 mark there. Uh and nearly Look at the kind of open interest position built up. A lot of shorts getting built up at 5.8% jump in shorts for the Nifty futures alone.

[00:00:22]Nifty Bank again, uh it's down in today's trade nearly 0.8%. Again, there we are seeing a good build up of shorts happening 2.8% build up of uh building build up in open interest there. Look at the bank constituents. Uh you will see private sector banks today uh adding like HDFC, ICICI, and Axis are adding short build up. Uh across the board, it's a short build up not just private but public sector banks also adding some shorts in today's trade. The index down nearly 450 points there. Call and put writing is aggressively happening at uh 23,300 levels uh uh where we have seen uh extensive positioning happening there. Uh 23,400 is also a level where we have seen calls. So, it's it's a morning where we have seen a lot of call writing coming into being. Hopefully, uh something stabilizes and we'll have some put writer put writing coming back. But, today if you look at uh the distribution, 23,300 is acting as a good uh resistance for the market there. 23,000 is still acting as a good support as we speak. Uh and but there isn't much of a uh you know, a bandwidth. So, it's a narrow band of 300 to 400 points that the index is uh currently at.

[00:01:34]Look at what's happening in gainers. Uh uh NHPC is up nearly 4.4%.

[00:01:39]Uh we saw uh you know, 71.5 was the indicative price for the non-retail OFS investors. Uh the stock at 76 rupees uh good good uh subscription seen seen there. And GVW is up 3% and Avenue Supermart is also up nearly 1.5% in today's trade. In losers, you have LTM Uh short built up TCS is seeing a short built up and Wipro is seeing a short built up today.

[00:02:05]Look at what's happening in open interest gainers GV TND long built up is is being seen. LTM Mindtree is seeing a short built up and TCS is seeing some short built up in today's a day of some corrections coming in. Open interest losers include NHPC where there's a short covering happening. We saw that happening ahead of the OFS and yesterday some shorts getting built up. Today it's a day of short covering happening.

[00:02:29]Jubilant is up on the back of short covering and Oracle is seeing a long unwind at this point in time. Active stock no guesses it's IT companies TCS 2400 June call 9.3 lakh contracts getting added. The stock down nearly 181 premium down 69.4 to 26.225.

[00:02:50]So aggressive calls getting written for TCS. Infi 1200 June put is also seeing some unwind 2.2 lakh contracts getting unwound there stock hovering around the 1218 mark down 52 premium of 16.4 to 27.90.

[00:03:07]But as as I say you know the Nifty is just below the 23250 mark as we speak down over 1% at the moment. So we'll step into a small break and we'll come back with more settings.

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