Benchmark indices failed to hold 11,750 level and ended marginally lower in lacklustre trade on May 2. The Sensex ended 35.78 points down at 39,031.55, while Nifty closed 6.50 points lower at 11,748.20.
The Nifty after opening marginally lower at 11,725.55 remained rangebound throughout the session. The index touched an intraday high of 11,789.30 and low of 11,699.55, before closing 23.40 points lower at 11,724.80.
India VIX moved up 5.19 percent at 22.96. Higher VIX suggests that volatile swings could continue in the market ahead of election polls and outcome.
According to the Pivot charts, the key support level is placed at 11,686.43, followed by 11,648.07. If the index starts moving upward, key resistance levels to watch out are 11,776.23 and 11,827.67.
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Source: Moneycontrol
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