The key Indian equity indices traded in the green on Tuesday morning with the BSE Sensex rising over 260 points.
Healthy buying was witnessed in consumer durables, IT and auto stocks.
Around 10.20 a.m, Sensex was trading at 38,314.89, higher by 264.11 points or 0.69 per cent from the previous close of 38,050.78.
It opened at 38,084.70 and has so far touched an intra-day high of 38,332.01 and a low of 38,062.01 points.
The Nifty50 on the National Stock Exchange was trading at 11,313.40, higher by 66.30 points or 0.59 per cent from its previous close.
Manish Hathiramani, technical analyst with Deen Dayal Investments said: “The Nifty is trading above the crucial 11,350 resistance level. We need to keep a watch to see if it can close above this level. If we manage to do that, we could target a 200 point move (upwards) on the Nifty.”
He noted that 11,100 is the support for the markets which is crucial because if the index breaches the level, it could slide 200 points downwards.