Nifty50 needs to hold above 10,800 to extend its move towards 10,985-11,000 zone.
Buy Surya Roshni Ltd. at a price target of Rs 328.
The Nikkei share average gained 1 per cent to 20,555.29, its highest close since December 19.
Buy Karnataka Bank at a price target of Rs 145.
Consolidated total income of the company jumped 19.44 per cent to Rs 2,252.75 crore.
Nifty is well placed above its 20, 50 and 100-day averages, which supports bullish sentiment.
It was a splash of green across most Asian markets, which closed nearly 2 per cent higher.
The 30share BSE Sensex was up 376.75 points at 36,230.31 at around the same time.
The insurance behemoth brought down its shareholding in the company to 5 per cent.
Benchmark NSE Nifty50 index was up 122.55 points at 10,860.15 while the BSE Sensex was up 398.95 points at 36,252.51.
FPIs have showed strong tendency to buy Indian equities ahead of the budgets, data shows.
The brokerage maintained 'Buy' rating on the stock with a target price of Rs 1,500.