SHORT COVERING

Nifty moved up swiftly in late afternoon due to short covering. The outlook for today is cautious optimism as long as NF trade over 2620 with Stop loss for all longs at NF 2597 - 2589 for target NF 2645-2656-2662. Major hurdle in zone of NF 2669-2683. NS has to trade over 2709 for upmove.