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Market Direction Through Mid-Morning Thursday

In the early trade, Thursday 11-April, markets indices were trading near flat line. After trading get progressed, the indices moved a little higher touching Sensex up by maximum 30 points. Again the indices moved into red and the Sensex and Nifty down by 18 and 4 points respectively.

Seeing technically, Nifty sees support at 11500, whereas 11640 will take action as resistance. Bank Nifty finds support at 29600, while 29850 will act as resistance.

At 11.45am, the Sensex traded at 38,565-level down 20 points or 5% and the Nifty at 11580-level, down just near 4 points or 3%.  Markets witnessed volatility through mid-morning session.

Major stocks in movements: Oil Marketing companies stocks see rising trend as Crude oil cools.  Shares of Hindustan Petroleum Corp (HPCL) up 1.5% higher at Rs.259.80 per share. Indian Oil Corporation (IOC) was up 0.89% higher at R.158per share, while Bharat Petroleum Corp (BPCL) traded up 1.57% higher at Rs363.35per share.

Shares of Jet Airways in early trade gained upto 1% but later it pared gains and is currently at Rs.264.35 per share, up 0.48%.

Shares of Wockhardt gains 1.90% at Rs450.80 per share on USFDA approval for new injection. Shares of Cox & Kings trade higher 1.22% after shares of Cox& Kings Financial Service were listed on NSE and BSE effective from today.