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Markets have turned bearish with key supports under pressure

Markets were under pressure in the week gone by and the optimism about markets and new highs in the festive season simply disappeared looking at the Israel-Hamas stand. Markets lost on four of the five sessions and gained on just one session.

Short covering pushing the markets up

The concerns triggered by the ongoing Israel-Hamas conflict had resulted in the creation of big short positions in the market, and now these shorts are being covered pushing the markets up, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.