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Nifty futures on the NSE International Exchange traded 15 points, or 0.08 per cent, higher at 19,791, hinting at a positive start for the domestic market on Wednesday.
Based on the OI percentage, 82 stocks were on the short-covering list. These included City Union Bank, MCX India, L&T Finance Holdings, ABB India, and Kotak Mahindra Bank
For an intermediate bullish trend to hold, Nifty has to sustain above the crucial support of 19,550.
Since the broader markets are overstretched, failing to clear the high might trigger some profit-booking. Traders should remain extremely stock-specific and follow strict stop-losses, advised experts
The Nifty Index is currently entrenched in a compelling bullish trend, with the potential to advance toward the 20,604 levels in the short to medium term.