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NIFTY

* Nifty started the week on a firm note and gained nearly a percent, in continuation of the recent rebound.

* All the key sectors contributed to the move. Metal, energy and pharma gained over a percent each.

* Largely mirroring the rebound of the US markets. Set to test the hurdle at 19,500 in Nifty.

* Continued global recovery combined with improved participation from the banking pack would be critical ahead.

BANK NIFTY

* Banking index also inched higher and gained over half a percent.

* Recovery in the private banking majors led to the rebound. ICICI Bank, Axis Bank and HDFC Bank were the top contributors.

* Surpassed the hurdle of 20 EMA. Major resistance intact at 44,100.

* Stay selective and limit aggressive longs at current levels and prefer a hedged approach.

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