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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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