The market maintained its momentum for another day on May 9 as bulls continued to charge up Dalal Street. As of 11.50am, the Nifty 50 index traded up 67 percent or 0.37 percent at 18,331.40.Option data shows heavy Put writing at 18300, an indication that bulls are convinced that this level will be hard to break for the index. Though Call writers are present at 18,350 and 18,400, the resistance seems weak.Overall, traders believe the market has a lot of steam left, however, some intraday traders believe selling on the rise can be a good strategy.“I see the market going till 18450 but for today, the strategy is sell or rise,” said Santosh Pasi, a derivatives trader and a Sebi registered investment advisor.Almost all sectors were on the rise, with autos and private banks in the lead.City gas distributors were on a roll and traders lapped up Mahanagar Gas and Indraprastha Gas stocks with a bullish view. Bulls were also seen running behind Intellect Design, SRF, and IDFC First Bank.Short covering, which happened when bearish traders are winding down their positions, was seen in Birlasoft, Manappuram Finance and vedanta.Abbott India, PNB and UPL saw short buildup.