Mumbai, April 29
The domestic benchmark indices opened higher on Tuesday amid positive cues from global markets, as buying was seen in the PSU bank, auto and IT sectors in the early trade.
At around 9.25 am, Sensex was trading 409.4 points or 0.51 per cent up at 80,627.85 while the Nifty climbed 118.10 points or 0.49 per cent at 24,446.60.
Nifty Bank was up 492.90 points or 0.89 per cent at 55,925.70. The Nifty Midcap 100 index was trading at 54,931.15 after increasing 490.90 points or 0.43 per cent. Nifty Smallcap 100 index was at 16,860.05 after climbing 183.15 points or 1.10 per cent.
According to analysts, after a positive opening, Nifty can find support at 24,250. On the higher side, 24,500 can be an immediate resistance, followed by 24,600 and 24,700.
"The charts of Bank Nifty indicate that it may get support at 55,300 followed by 55,000 and 54,700. If the index advances further, 55,600 would be the initial key resistance, followed by 55,900 and 56,200," said Hardik Matalia from Choice Broking.
Meanwhile, in the Sensex pack, IndusInd Bank, Bajaj Finserv, Axis Bank, Tata Motors, M&M, Titan, SBI, Bajaj Finance, Eternal, Maruti Suzuki and Power Grid were the top gainers. Whereas, UltraTech Cement, Nestle India, Sun Pharma and Asian Paints were the top losers.
Sensex has respected the important 200DMA zone of 79,100 level, where it has strong support during the intraday session, and witnessed a decent rally towards the 61.8 per cent retracement level to improve the bias.