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

Key support level for Nifty is placed at 8,495.63, followed by 8,199.07. If the index continues moving up, key resistance levels to watch out for are 8,954.08 and 9,115.97.

April 08, 2020 / 07:23 AM IST

Benchmark indices on April 7 posted strong gains after two consecutive sessions of losses.

The market opened with a strong gap on the upside which fuelled a 2500-point rally in Sensex, while the Nifty50 reclaimed 8,800 levels in intraday trade.

Eventually, Sensex closed 2,476 points, or 8.97 percent, higher at 30,067.21 while Nifty settled 708 points, or 8.76 percent, up at 8,792.20.

It was a broad-based rally as all pockets managed to rebound sharply, especially recent beaten down spaces like private banks and auto counters.