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After hitting the lower circuit in intraday trade on March 23, the Indian market saw some recovery on March 24 with Nifty ending above 7,800-mark, taking cues from firm global markets.

Additionally, the market sentiment strengthened as the Finance Minister told media that the economic package to help through the coronavirus lockdown is being readied on priority.

However, on the technical front, Nifty and Bank Nifty are still not showing strength as prices are holding well below its short and long-term moving averages on broader charts.

Nevertheless, some technical bounce back after a steep cut in prices is always expected but rising volatility index with fears of COVID-19 among global investors will likely keep bears on the front foot as of now.

As far as levels are concerned, 8,000-8,100 levels are key resistance levels for the Nifty which should cap any sharp upside.