The S&P BSE Sensex, Nifty50, and Nifty Bank hit a fresh 3-year low amid the volatility seen in markets. The Nifty Midcap index closed at a 4-year low while India VIX jumped to a 12-year high. Sensex dropped 581 points to settle at 28,288 while the Nifty50 plunged 205 points to close at 8,263.
According to the pivot charts, the key support level for Nifty is placed at 7,872.18, followed by 7,480.92. If the index moves up, key resistance levels to watch out for are 8,615.08 and 8,966.72.
Nifty Bank closed 2.41 percent down at 20,083.50. The important pivot level, which will act as crucial support for the index, is placed at 18827.76, followed by 17572.03. On the upside, key resistance levels are placed at 21187.16 and 22290.83.