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The Indian market continued its winning streak with Nifty closing near the 13,400 mark on December 8, boosted by metal, IT and pharma stocks.

Bank Nifty also closed above 30,250 as PSU banks outperformed the market.

The reports of emergency vaccine rollout in India along with hopes of a stimulus package in the US and Japan kept the bulls on the front foot.

On the derivatives front, Put writers are continuously shifting to higher bands as Call writers are feeling discomfort.

On the higher side, now 13,500 holds a maximum open interest in Calls which should act as an immediate hurdle for Nifty.

However, the bias is likely to remain in favour of bulls as long as the Nifty is trading above the 13,200 mark.

One can expect sector-specific volatility in the coming sessions as the tug of war among bulls and bears can keep markets impulsive.