Are the markets entering a consolidation phase? Here's what charts suggest

Markets started the first trading day of August 2020 lower, with the S&B BSE Sensex slipping over 400 points in intra-day deals. The broader Nifty50, on the other hand, slipped below the crucial 11,000-level, and was trading at 10,978 level, down 95 points or 0.86 per cent around noon deals on Monday.

Here are the key levels you should keep a tab on as regards the frontline indices.

S&P BSE SENSEX: This index is witnessing selling pressure above 38,500 mark. That said, the 200-DMA remains a support level at 36,900. The Relative Strength Index (RSI) and Moving Average Convergence Divergence