2 Oorjita research notes discuss Punjab National Bank.
Gift Nifty opened 22.50 points weak this morning (25,641), yet cash market closed at 25,725—an 84-point premium recovery. This wasn't organic buying; it was short-covering catalyzed by absence of fresh FII selling.
The 22.9% surge in Index Options OI + 49.6% turnover spike indicates aggressive hedging/speculation ahead of expiry, consistent with our morning warning of "powder keg scenario".
