Bulls made a strong comeback in the Indian market as the equity benchmark Sensex hit its all-time high of 53,057 on June 22 while Nifty remained just short of retesting its record high.

Banking counters witnessed sluggish moves while the auto sector gave some momentum to the market.

On the technical front, Bank Nifty is facing a strong hurdle in the zone of 35,200-35,500. We expect the banking sector to gather some momentum in the upcoming sessions.

The market is likely to remain in the bullish territory as long as Nifty is holding above 15,500.

We can expect some volatility this week as we are heading towards the end of June series futures and options expiry.

Traders need to keep a strong gauge on rollover data to the July series for further cues.

Technically, the level of 16,000 would act as a key psychological level for Nifty, above which, we could witness the next round of buying momentum which could take the market towards 16,250.