The price of this stock has been coming down in the past ten days. There is a huge short build up in the stock, as is evidenced by the increase in open interest.
As the open interest crossed 95%, NSE has imposed a trade ban on the stock; positions can only be squared off.
I think this means that the price will now start going up as more short covering will take place.
Is my assumption correct?
As the open interest crossed 95%, NSE has imposed a trade ban on the stock; positions can only be squared off.
I think this means that the price will now start going up as more short covering will take place.
Is my assumption correct?
