Around 10 a.m., Sensex was trading at 50,069.02, higher by 407.26 points or 0.82 per cent from its previous close of 49,661.76.

 

It opened at 49,885.26 and has so far touched an intraday high of 50,091.16 and a low of 49,832.35 points.

 

The Nifty50 on the National Stock Exchange was trading at 14,943.70, higher by 124.65 points or 0.84 per cent from its previous close.

 

Manish Hathiramani, technical analyst with Deen Dayal Investments: "We are currently trading at an important juncture. 14,900-14,950 is a resistance zone for the Nifty. If we can keep above this level for a few hours, the markets would break out of its current range bound movements and scale higher to 15,300-15,400."

 

"If we fail and resist these levels, the index can turn around and head back to 14,500-14,600," he said.