Bulls made a comeback as the Indian market soared high and recovered from its last week's lows and the benchmark Nifty closed above 15,800 once again on July 13.

On the derivative front, Call writers at 15,800 strike were seen unwinding their positions while Put writers added hefty open interest at 15,700 strike.

Nifty is trading above its long and short-term moving averages on the daily charts with the formation of a higher bottom.

On the higher side, now 36,000 will be a strong hurdle for the banking index above which, we can witness a fresh round of follow-up buying.

For Nifty, 15,900 would act as a major hurdle in the short-term above which, the index can march towards its record high and above 16,000.