We have seen a spectacular comeback by the bulls after the recent fall towards 10,800.

In the week gone by, the market just took off with the help of a few heavyweights.

Initially, it was the IT space that took the charge and lifted markets higher from the critical levels along with some participation from the banking space.

Any robust rally in the market is incomplete without the contribution of the banking space. Last Friday, post the RBI policy, banking stocks attracted tremendous buying interest to eventually end the week at a new seven-month high for Nifty above the 11,900-mark.

In the last couple of weeks’ rally, global markets played a major part as we are seeing some gravity-defying moves despite some in-between uncertainty.

The way Nifty surpassed the August 31 high of 11,794 with some authority and it is now within the kissing distance of 12,000, the positivity is likely to extend further.