Bulls return to banks on RBI's FCNR(B) initiative
· economictimes.indiatimes.com
Traders are piling into bullish derivative bets on banks, reversing bearish positions, as RBI's foreign currency borrowing measures boost lenders. Bank Nifty surged 4.25% last week, outperforming the Nifty. Analysts expect this trend to continue, driven by short covering and fresh long additions.
Agencies RISK REVERSAL: A combination of short covering and fresh long additions in lender stocks signals strong buying sentiment ahead
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