1. Bull market or bear market?

Bull market as the index continues to form higher tops and higher bottoms on daily charts. The momentum indicator MACD is well into buy mode on the daily as well as weekly charts, hence the probability of the index forming a new high is quite high. The short-term target comes to 11795 whereas the support or reversal in the short term is 11555. 

2. Stocks likely to be in limelight today?

Infosys, Tech Mahindra, Maruti Suzuki, TVS Motors, BEML, Auro Pharma, ICICI Prudential Life looks good.

3. Sectors likely to impact market today?

Nifty IT, Auto, Pharma are likely to trade with positive bias.

4. Your mid-term view?

The index has provided a breakout above 11500 levels, hence the probability of it forming a new high till it sustains above it is too high. The medium-term target comes to 11950 levels.

5. What drove markets on Monday?

Oil & Gas sector, IT sector, Auto sector and Metal sector were among the top contributors on the upside whereas Banking was the worst performer.

Jay Anand Thakkar, CMT-assistant VP-equity research, Anand Rathi