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Indian markets witnessed follow up buying in Tuesday's session as Nifty indices managed to surpass above key resistance levels of 15,100. The rally was supported by banking, auto and metal counters.

From derivative front, Call writers were seen covering their short positions at 15,000 & 15,100 strikes while Put writers are shifting at higher bands which point towards strength in current trend. From technical front as well, Nifty can be seen trading in a rising channel with formation of higher bottom pattern.

In Tuesday's session, the index has given a fresh breakout above 15,100 levels after prolong consolidation. On short term charts, the breakout above ascending triangle pattern can also be observed which again points towards next upswing into the prices.

For upcoming sessions, the bias is likely to remain in favour of bulls and on downside, the immediate support is placed at 14,950-14,850 levels while 15,200 would be next hurdle.