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Markets opened higher on Tuesday tracking firm Asian cues. However, investors are likely to remain cautious later in the day ahead of the futures and options expiry for July contracts this Thursday.
At 9:17AM, the 30-share Sensex was up 149 points at 20,309 and the 50-share Nifty was up 44 points at 6,076.
According to technical experts, " Levels of 6000 and 6065 on Nifty can be used as stop loss for long and short futures positions respectively. Breakouts could go till 5950 or till 6125. A bullspread of long 6100c (14) and short 6200c (4) costs 10. It could double if 6100 is hit."
Overnight, US stocks ended marginally higher after McDonald's Corp, the world's largest restaurant chain posted weaker-than-expected results.
The Dow Jones Industrial Average was up 1.81 points, or 0.01 percent, at 15,545.55. The Standard & Poor's 500 Index rose 3.44 points, or 0.20 percent, at 1,695.53, and the Nasdaq Composite Index added 12.77 points, or 0.36 percent, at 3,600.39.
Asian markets rebounded after a cautious start. The Nikkei, Shanghai Composite, Straits Times and Hang Seng are up 0.4-2.0% each.
The Sensex gains were led by index heavyweights Reliance Industries and Infosys along with financial shares.
