A 1000-point drop! Sensex can hit 36,400 in the days ahead, charts indicate

The S&P BSE Sensex needs to close above 37,700 levels on Friday and one needs to see buying emerge at lower levels. Only then, one can see a revival towards 39,000 levels in the days ahead.

Markets have been on a selling spree since the past few weeks as coronavirus fears tightened their grip over countries. Back home, slowing growth and developments in the banking sector added to woes. The S&P BSE Sensex and the Nifty50 tumbled over 7 per cent each last week – the worst in a decade. The fall continued this week with both these indices slipping another 2.2% thus far in the current week.

Here are the key levels you need to keep a tab on.

S&P BSE SENSEX: The index needs to close above 37,700 levels on Friday and one needs to see