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Last Updated : Jan 24, 2019 02:41 PM IST | Source:

Buy or Sell | Nifty likely to witness short covering rally; buy Bajaj Finance, Havells

Derivate data reflects that a lot of short positions are left in Nifty index and Calls.

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Markets are trading near weekly highs and maintaining well above its short and long term moving averages with the formation of higher highs and higher bottom pattern on a daily interval.

Derivate data reflects that a lot of short positions are left in Nifty index and Calls. There may be another round of short covering in coming sessions.

Nifty can move to 11000-11150 mark as the market undertone remains bullish with support of consistent short covering.

11000 Strike Call is still holding with highest open interest of nearly 34 lakh shares while on the downside 10700 Strike holds maximum open interest of 37 lakh shares.

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First Published on Jan 24, 2019 02:41 pm
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