Published on Wed, Nov 19, 2008 at 12:36 | Source : CNBC-TV18
Updated at Wed, Nov 19, 2008 at 15:52
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Rally led by short covering; RIL holds on
Today's rally is largely led by short covering. Reliance Industries (RIL) is holding on since morning trade; few long only funds have been buyer for past few days.
Here is transcript of Nimesh Shah's comments on CNBC-TV18. Also watch the accompanying video.
Today's rally is largely led by short covering. Reliance Industries (RIL) is holding on since morning trade; few long only funds have been buyer for past few days.
Flows are mixed at FII desk and largely concentrated in large cap stocks. Positive flows are seen in banking stocks on the reports of further liquidity ease by regulators.
Mixed flows are seen from domestic institutional in the first half.
The Nifty closing above 2700 will be crucial for the potential upside.
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