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The Nifty50 after gap up opening started correction in late morning deals, but managed to claw back in last couple of hours of trade on short covering on Wednesday after big fall in previous two consecutive sessions.
The index closed sharply higher on reports of Prime Minister may be held economic review meeting to consider fiscal or monetary measures on Saturday, and ahead of industrial output and CPI inflation data due later in the day.
The Nifty hold on to its crucial support placed at 11,300 levels and made a small bullish candle, which looked like a 'Hammer' kind of formation on daily charts, after two big bearish candles in previous two trading sessions.
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