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

Key support level for the Nifty is placed at 9,920.77, followed by 9,749.83. If the index moves up, the key resistance levels to watch out for are 10,186.92 and 10,282.13.

June 19, 2020 / 07:10 AM IST

Despite negative global cues, domestic equity benchmarks -- Sensex and Nifty -- logged strong gains on June 18, supported by a rally in banking and financial heavyweights.

The Sensex ended with a gain of 700 points, or 2.09 percent, at 34,208.05. The Nifty settled 211 points, or 2.13 percent, higher at 10,091.65.

"With the Supreme Court's AGR ruling providing a respite to exposed banks, the relief was visible in the banking stocks, especially those which had exposure to telecom companies. The banking index contributed the most to the positivity and almost all components of the index ended the day positively. The current geopolitical situation and associated comments also aided sectoral movements. Caution is advised," said Vinod Nair, Head of Research, Geojit Financial Services.

Ajit Mishra, VP - Research at Religare Broking expects news related to the standoff with China and cues from the global market to remain on participants' radar. "Since all the sectors are contributing to the move, traders should maintain their focus on stock selection."