Sensex, Nifty breach 200-DMA but don't panic on event driven sell-off

Traders should opt to stay on the sidelines as this is an event-driven volatility, and wait for a decisive confirmation

This morning Brent Crude soared past the $100-mark as the conflicts between Russian-Ukraine intensified. Market sentiment across Asia was dented after Russian President ordered troops to invade Eastern Ukraine in a “Special Military Operation”.

Shortly after Putin’s speech, reports indicated that there were explosions heard in the parts of Kyiv, capital city of Ukraine. Earlier, Russia deployed troops in Eastern Ukraine to recognize republics of Donetsk and Luhansk as sovereign states.

The BSE Sensex and Nifty 50, the key indices in India opened gap-down, and were down more than 3 per cent each in early trades. In the process, the