FIIs improved their long-short ratio for index futures from 14 percent to 28.26 percent by buying over 1.2 lakh index futures contracts. This shift came amid robust short covering on June 3.
The market bias has turned bullish for the short term, with the NSE Nifty 50 index witnessing heavy short covering in the futures space, followed by long additions.
Analysts says a decisive breach of the 33-mark can trigger a second round of upward movement, potentially pushing the stock above Rs 40 in the medium term
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