Street signs: CPSE short-sellers trapped, Nifty near 12,000, and more

Most of them had to cover their short positions after the CPSE ETF FFO garnered over five times subscription

Rally may take Nifty near 12,000 

The Nifty clocked gains of 7.3 per cent in the March series to close at 11,570. Rollovers were higher compared to the previous two months with better rollover costs. The longs have rolled over their positions to the next series and the momentum could take the index to 11,760 levels and higher as part of a pre-election rally. The Bank Nifty gained 13.5 per cent to 30,420 and there continues to be a buying interest in both private and public sector banks, said derivatives experts. The Bank Nifty needs to hold above the 29,888 zone