The Indian market began this week on a positive note as the Nifty again surged towards 15,900 with strong support from banking counters. However, gains didn’t last long as selling pressure at higher levels once again saw the index slide to 15,800.

On the technical front, the Bank Nifty managed to close above the key resistance level of 35,500, pointing to more positive moves in the coming sessions.

On the higher side, 16,000 and 36,000 levels will act as strong hurdles in the short term for the Nifty and the Bank Nifty, respectively.

A decisive move above these levels will again trigger follow-up buying in the market. Banking counters can lead the market in the coming days.