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Indian markets outperformed global peers on Monday as the S&P BSE Sensex rallied by nearly 400 points while the Nifty50 surged more than 100 points.

The Sensex closed at 52,880.00, up 395.33 points or 0.75%, while the Nifty was at 15,834.35, up 112.15 points, or 0.71%

Sectorally, all, except the IT and Pharma indices, ended in the green. Of these, the Nifty Realty index was the top gainer, up nearly 3%. BSE Midcap and Smallcap indices rose 0.3-0.8%

Hindalco Industries, ONGC, SBI, Tata Steel and Coal India were among the top gainers on the Nifty. Top losers were HDFC Life, Tech Mahindra, Dr Reddy’s Labs, BPCL and Britannia Industries.

Meanwhile, shares of India Pesticides Ltd made a strong debut as it listed strongly on the exchanges today with 21% premium at Rs 360 per share against its issue price of Rs 296.

Here’s how experts see markets trading on Tuesday

Chandan Taparia, VP | Analyst-Derivatives at Motilal Oswal Financial Services

Nifty50 closed with gains of around 110 points and gave the highest daily close of the last six trading sessions. It negated its lower lows formation of the last four sessions and formed a Bullish candle on the daily scale followed by a Hammer last Friday.

Now, the index has to hold above 15800 zones to witness an up move towards 15915 and 16000 zones, while on the downside support can be seen at 15700 and 15600 zones.

Manish Shah, Founder, www.Niftytriggers.com

Nifty closed the day in a positive territory on the first day of the week. Sluggishness in the European markets did not dampen the mood Nifty closed at the high of the day. For last 4 weeks Nifty is caught in a trading range of 15900-15650 and this the narrowest one month range we are seeing in almost a year. The contraction on volatility cannot remain at such low levels for a very long time Ultimately volatility also reverts to the mean.

Nifty closed above its flattening moving average and this a positive development. Nifty faces major barrier at 15900-15950 and this barrier needs to be taken out. Nifty needs to close above 15900-15950 preferably with a long range candle to move to higher levels. Once this happens a possible rally to 16200 is likely. Let us brace for an upside in double quick time.

Expert: Rohit Singre, Senior Technical Analyst at LKP Securities

For a fresh move above the recent swing high, the index needs to give a decisive close above 15900 zone, as only then we may see a fresh up move towards the 16000-16100 zone.

The immediate hurdle zone is placed 15900, and good supports are shifted to 15790-15700.