The market remained under pressure and ended lower for the fourth consecutive day on the back of weak global cues as United States opened a new trade war stating that it will impose tariffs on $7.5 billion of goods on the European Union.
The Sensex was down 198.54 points at 38106.87, while the Nifty was down 45.90 points at 11,314. About 958 shares have advanced, 1502 shares declined, and 155 shares are unchanged.
On the technical front, the Nifty50 registered a Doji kind of indecisive formation after moving in a range of 113 points.
According to the pivot charts, key support level for Nifty is placed at 11,257.4, followed by 11,200.8. If the index starts moving up, key resistance levels to watch out for are 11,370.5 and 11,427.
Nifty Bank closed with a loss of 307 percent at 28,418.50. The important pivot level, which will act as crucial support for the index, is placed at 28,180.23, followed by 27,946.37. On the upside, key resistance levels are placed at 28,708.53 and 29,002.96.