Both the Nifty and Sensex test key support at the current levels

Downward breach of the 21- and 50-day moving averages and a key support last week, kept selling pressure on the domestic bellwether indices. Both the Nifty and the Sensex witnessed steep declines during last week, triggered by global cues and deprecating rupee that tanked to 6-1/2 month low last week. September month derivative expiry also exerted pressure on the indices. Going forward, the RBI’s...