Around 10.08 a.m., the Sensex was trading at 38,506.44, higher by 89.21 points or 0.23 per cent from the previous close of 38,417.23.

It opened at 38,498.07 and has so far touched an intra-day high of 38,522.49 and a low of 38,332.20

The Nifty50 on the National Stock Exchange was trading at 11,367.70, higher by 12.65 points or 0.11 per cent from the previous close.

Manish Hathiramani, technical analyst with Deen Dayal Investments said: "The Nifty is trading above 11,300 which continues to remain a bullish sign. However, if we disrespect the levels of 11,200, we could slide further to break 11,000."

"On the upside, an impulsive bull rally will only be seen post 11,600. Until then we would be in a 300-400 point range of 11,200-11,600," he said.