Chart reading: Key levels for Sensex, Nifty to watch out for today

On Friday, the BSE Sensex slipped 689 points, or 1.89 per cent, to close at 35,742 while the Nifty50 index fell 197 points or 1.81 per cent to end at 10,754. Also, on the weekly basis, both the indices closed in the negative territory. BSE Sensex closed down 1.89 per cent and Nifty settled 0.46 per cent lower.

The week gone by witnessed positive sentiment as indices crossed their recent highs, Nifty (10,941) and Sensex (36,446). The trades above crucial moving averages( 100-DMA and 200-DMA) further boosted the morale of traders and investors. The new higher levels have deep significance, indicating