The Indian market began this week on a positive note with Bank Nifty taking the lead on the back of sharp gains in HDFC twins, ICICI Bank and Axis Bank.

On the derivatives front, put writers were seen shifting towards higher bands which indicates that the bias is likely to remain bullish in the coming sessions as well.

On the higher side, call writers hold maximum open interest at 12,000 strike above which, we can witness further short-covering which could take Nifty towards 12,100 levels as well.

On the technical front, the 11,700-11,600 zone is a strong support area for Nifty and any dip in prices should be used to create fresh longs.