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Based on the OI percentage, a total of 74 stocks were on the short-covering list which included Vodafone Idea, IndiaMART InterMESH, Biocon, Page Industries, and Sun TV Network.
A short build-up was seen in 57 stocks, including L&T Technology Services, Bata India, Biocon, Bajaj Auto, and M&M Financial Services.
Based on the OI percentage, a total of 75 stocks were on the short-covering list. These included Hindustan Petroleum Corporation, Apollo Tyres, MCX India, Exide Industries, and Eicher Motors.
The Nifty is just 250 points away from the 23,000 mark, while the Nifty Bank is also 2% away from the 50,000 mark.
Oil has been experiencing a face-ripper rally since February and it has been in overbought territory since March. It is now rapidly approaching a price level which could serve as short-term resistance.