Citibank update, page-31

it does. Days when we have closed green, have seen some of the highest volume of shorts closed. I suspect very few have closed today based on light volume.
Appears small volumes are also being fed into the sell side to keep the price subdued, and weak hands feed into this selling pressure. Very few people follow forums to make a educated decision as to whether to sell , hold or buy, and they see the downward price pressure as a reason to sell. These are the shares that shorters are absorbing. Also interesting action during the pre close auction, which sees shorters trying to pick up as many shares as they can without creating unnecessary upward price pressure.

If there is to be a short squeeze, it will happen post the HY results and perhaps confirmation of guidance for the FY.