The market is expected to open in the green as trends in the SGX Nifty indicate a positive opening for the broader index in India with a gain of 40 points.
The BSE Sensex declined 519 points to 61,145, while the Nifty50 slipped 148 points to 18,160 and formed bearish candle on the daily charts at the close on Monday. The immediate support of the last month (10-day exponential moving average) has been broken on the downside at 18,250 levels.
As per the pivot charts, the key support level for the Nifty is placed at 18,136, followed by 18,105 and 18,056. If the index moves up, the key resistance levels to watch out for are 18,234 followed by 18,265 and 18,314.
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