Short Covering Likely To Push Index Towards 10,750; 5 Stocks Which Can Give Up To 19% Return

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On the technical front, 10,550-10,500 spot levels is strong support zone for Nifty and current trend is likely to continue towards 10,700-10,750.At current levels still, there is a lot of outstanding short position held in Nifty and Index calls and we can expect another round of short covering move going forward.

As per the current derivative data, Nifty can move towards 10,750-mark as the market undertone remains bullish with the support of consistent long buildup and short coverings.

The derivative data indicates the bullish scenario is expected to continue with Nifty having multiple strong supports at lower levels around 10,550 and 10,500 spot.

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