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Trade Setup for Thursday: Top 15 things to know before Opening Bell

Key support level for Nifty is placed at 8208.05, followed by 7947.3. If the index moves up, key resistance levels to watch out for are 8928.55 and 9388.3.

March 18, 2020 / 08:13 PM IST

Indian equities continued to be swept by the selloff wave on March 18 with the benchmark indices closing at a fresh 3-year low.

The Sensex plunged 1,710 points to clsoe at 28,869.51 while Nifty fell 498 points to end at 8,468.80.

"Technically, Nifty has broken 8,555 level, which is the previous lowest support level. Closing below the same has now opened the levels of 8,200, 8,150 and 7,890 for the index. The level of 7,890 has special importance. After the episode of demonetisation of the Indian currency, the market found a final breather at 7,894. We feel it could act as a major support for the market,” said Shrikant Chouhan, Senior Vice-President, Equity Technical Research, Kotak Securities.

We have collated 15 data points to help you spot profitable trades: