Nifty reclaimed the 10950 mark. Auto, PSU bank and metals saw hefty buying. Put writers were active in 10800 and 10900 strikes. Bears are losing their momentum on the broader index. Nifty has taken a V-shaped recovery and is trading well above its long term and short term moving averages. As long as Nifty trades above 107650 spot levels the current trend is likely to continue towards 11100, says Shitij Gandhi, Senior Research Analyst, SMC Global Securities Ltd.
