Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
Register Now : Nifty Banker 3.0 | India's First Retail Index Traders Online Conference.
Budget 2023
Budget 2023

Trade Setup for Friday: Top 14 things to know before Opening Bell

Key support level for the Nifty is placed at 9,157.35, followed by 9,115.65. If the index starts moving up, key resistance levels to watch out for are 9,259.3 and 9,319.55

May 07, 2020 / 10:57 PM IST

Equity benchmarks resumed their downward march on May 7 as rising cases of novel coronavirus, or COVID-19, and a delay in government stimulus dealt a blow to investor sentiment.

The Sensex closed the day with a loss of 0.76 percent at 31,443.38 and the Nifty settled 0.78 percent lower at 9,199.05.

"There is no respite in the number of domestic virus infections and the market is worried about a further extension in the lockdown, which could severely impact already weak corporate earnings and the economy.
The Indian market is expected to trade volatile, tracking domestic news regarding the spread of infections," said Vinod Nair, Head of Research at Geojit Financial Services.

We have collated 14 data points to help you spot profitable trades: