Syngene International is one of the stocks that recently got added to the Futures & Options (F&O) list in terms of stocks that are now eligible to trade in the F&O market.

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In the final hour of trade on Monday, September 13, the stock did see a big surge and volumes as well were much higher than normal averages; the traded volumes were at around 40 lakh, while the 10-day average is only at around 6.5 lakh and delivery volumes were close to around 14 lakh. The normal delivery volumes on the NSE is around 2.5-3 lakh.

The big surge, in the move seen yesterday on the stock, did come in on higher volumes and also in the F&O market, there was a big surge in open interest as well, it was up roughly around 68 percent during Monday's session.

Also Read: NSE adds 8 new stocks in F&O segment

In the options data, the 680 call, 700 call didn't add a lot in terms of open interest, but in comparison to the base, it was a very large increase that we saw there. So, it appears that there is some out of the money call buying that we are seeing on this counter.

The stock price move as well is quite interesting because in the month of July, it went to Rs 700 and from there we did see a sharp correction in the next one month or so and now, it's headed back towards its 52-week high seen earlier.

Importantly, in this move, it decisively settled above the 20-50-100 as well as the 200-day moving average (DMA), so technically the stock is looking strong.

Watch the accompanying video of CNBC-TV18’s Nigel Dsouza for more details.

(Edited by : Dipika Ghosh)