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Last Updated : Sep 09, 2015 08:17 AM IST | Source: Moneycontrol.com

Expect more short covering

Foreign institutional investors (FIIs) still sold about Rs 660 crore and domestic institutional investors (DIIs) did buy but not enough to compensate for that but still the market went up because there was short covering.


What a good day we had yesterday and look like we will have another good day. Look, this is a market which was oversold and as was a call yesterday this was a market which was ripe for a short covering bounce and short covering bounce is exactly what we have seen no more no less. Yesterday was purely a short covering bounce. Foreign institutional investors (FIIs) still sold about Rs 660 crore and domestic institutional investors (DIIs) did buy but not enough to compensate for that but still the market went up because there was short covering.

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First Published on Sep 9, 2015 08:17 am
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