Based on the OI percentage, 135 stocks were on the short-covering list. These included Coforge, HDFC, Tata Consumer Products, Vodafone Idea, and City Union Bank.
The Nifty50 is likely to hit its previous swing high of 17,860 and if the same price holds on closing basis, the 17,900-18,000 will be the next major resistance area, with initial support at 17,700 and 17,600 levels, experts said.
In the coming week, the market on Monday will first react to Reliance Industries and ICICI Bank quarterly numbers announced over the weekend, while overall, the tug-of-war between bulls and bears is expected to continue given the expiry of monthly futures & options contracts, experts said.
Based on the OI percentage, 70 stocks, including ICICI Prudential Life Insurance, City Union Bank, Navin Fluorine International, HDFC AMC, and Jubilant Foodworks, saw long build-ups.