The Nifty50 is likely to open with a gap on the lower side, tracking selloff on Wall Street, as well as other Asian markets, are also trading in the deep red. The Nifty closed 100 points higher at 10,576.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 241 points. Nifty futures were trading around 10,310-level on the Singaporean Exchange.
According to Pivot charts, the key support level is placed at 10,491.6, followed by 10,406.4. If the index starts to move higher, key resistance levels to watch out are 10,649.9 and 10,723.
The Nifty Bank closed at 25,920.65, up 0.98 percent. Important Pivot level, which will act as crucial support for the index, is placed at 25,663.27, followed by 25,405.83. On the upside, key resistance levels are placed at 26,152.27, followed by 26,383.83.
US stocks plunged around 4 percent on Thursday in another dramatic session, confirming a correction that has thrown the market’s nearly nine-year bull run off course.
Asian shares took a tumble early on Friday, taking cues from US indexes which extended sharp losses in the last session. Japan's Nikkei 225 fell 2.95 percent in early trade, with losses seen in most sectors. The Kospi lost 2.16 percent, with most sectors trading in negative territory
Missed call
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