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The range of 11,236-11,302 is a big hurdle for the index in the near term and thus, aggressive longs at the current juncture might not be prudent. Stocks in news: Chembond Chemicals, Cosmo Films, Lupin.

However, after rallying nearly 435 points from Thursday’s low, the bulls seem to be taking a breather this morning as SGX Nifty indicates a flat start. SGX Nifty is up by just a point, trading at 11,248 level.

The current pullback rally could continue towards the level of 11,153-11,204 and sustaining above this level could tell us whether the bulls have the potential to take it forward or not. Stocks in news: Dr Reddy’s Laboratories, Indoco Remedies, Escorts, Surya Roshni, Mukand, Reliance Industries.

The bulls are likely to continue their action from where they left on Friday as SGX Nifty is indicating a blistering start for the markets. SGX Nifty is up by 68 points and trading at 11,108 levels.

The onus is on the 200-DMA, which is placed at 10,761. If bulls manage to defend it, expect a pullback up to the levels of 10,980, or else, 10,640-10,550 is the next destination. Stocks in news: Cipla, GMR Infrastructure, ONGC, GAIL, RITES, TCS.