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One should still continue with a slightly cautious stance because the uncertainty is still looming over and till the time we do not get clarity with respect to all these developments, better to stay light with a stock-specific approach.

As far as levels are concerned, 11,550-11,650 are likely to act as immediate hurdles; whereas on the lower side, 11,350-11,200 would work as a key support zone.

Last week, most gains were contributed by the stellar move in Reliance Industries towards the fag end and IT stocks also chipped in.

At this juncture, the banking index is clearly underperforming and is placed around a crucial junction.

We are observing a cluster of support around 22,200-22,000 and till the time it is defended, we can expect some recovery in the market.

However, if it fails to hold this, Nifty can easily slide below the key support of 11,200. So, one should keep a close eye on all these possibilities and should position accordingly.