Kotak Mahindra Bank and HDFC Bank may take centre-stage today

1. Bull market or bear market?

Nifty has given a breakout from its trading range of five months on the back of good volume based buying almost across the board. The bias remains positive above 11100 for a potential target of 11300.

2. Stocks likely to be in limelight today?

Bank Nifty is expected to be positive above 28000. Our top picks are Kotak Mahindra Bank and HDFC Bank.

3. Sectors likely to impact market today?

Nifty Midcap 100 index is trading with a positive bias and can continue its up move in the current week. One can look to accumulate longs in FMCG and Pharma stocks.

4. Your mid-term view?

Nifty expected to test 11300-11500 in the coming few weeks. 10950 is expected to act as a base for the current rally. Bank Nifty can test new life high.

5. What drove markets on Monday?

Nifty saw a very healthy advance-decline ratio of 42 advances to 8 declines. Buying was witnessed in telecom, OMCs and midcap stocks.

Rahul Sharma, head- technical and derivatives strategy, Centrum Broking