The key Indian equity indices traded on a positive note on Friday with the BSE Sensex surpassing the 38,500-mark during the initial trade. Healthy buying was witnessed in healthcare, capital goods and energy stocks.
At 10.03 a.m., Sensex was trading at 38,504.24, higher by 193.75 points or 0.51 per cent from the previous close of 38,310.49.
It opened at 38,432.94 and has touched an intra-day high of 38,540.57 and low of 38,392.14
Nifty50 on the National Stock Exchange was trading at 11,351.55, higher by 51.10 points or 0.45 per cent from its previous close.
Manish Hathiramani, technical analyst with Deen Dayal Investments said: “The Nifty continues to remain within the range of 11,250 and 11,350 points. It opened above the range but has re-entered the range. If we can get past the 11,350-level we will start moving towards 11,500.”
He said that the support for Nifty remains at 11,100-11,150. “Traders are advised not to trade while the markets are within this range. Wait for either side to be taken out,” he added.