Market crash ahead? Sensex faces 2,000 points downside risk from here

The BSE Sensex may trade in the 79,600 - 82,600 range this week; technical chart indicates that the bias is likely to remain positive above 79,150 levels. Nifty near support seen at 24,512.

The BSE Sensex and the NSE Nifty ended over a per cent lower last week following a sharp sell-off in the last two trading sessions. The Sensex almost 1,400 points in the last two days, while the Nifty cracked over 400 points as nervousness gripped the equity market owing to the Israel-Iran conflict.  Prior to the weakness, the Sensex, Nifty were seen displaying strength, and registered fresh calendar year highs at 82,783.51 and 25,222.40, respectively.  The current dip might have sparked some fears, but technical charts indicate that both - the BSE Sensex and NSE Nifty may see