Anil Singhvi says today's action in Market will set the tone for this week's expiry; reveals crucial levels to watch

Stock market had started the last three Mondays in April on a negative note. The impact was maximum on April 12, when market fell almost 3.50 per cent. Talking about this pattern, Zee Business Managing Editor Anil Singhvi said we can say that in April, every Monday has been a 'big move' day.  

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The Market Guru said, "This is the day when we have been seeing big moves. It can happen that Nifty may reverse the trend this Monday. Whatever happens today will be big and that will also set the tone for this week's expiry. Those expecting that Nifty may slide below 14,150 and may touch 13,800, 13,850, today could be the day towards that journey. Also, those thinking that Nifty will cross 14,500 and 14,600 and attempt 14,800—well, today's performance will be crucial for upward rally towards that level."

क्या हर सोमवार बड़ी MOVE वाला दिन?

अनिल सिंघवी- बाजार की रिकवरी की लीडरशिप बैंक निफ्टी से आएगी...#EditorsTake #BankNifty #StockMarket @AnilSinghvi_ pic.twitter.com/vsHe8tqhvx

— Zee Business (@ZeeBusiness) April 26, 2021

Zee Business Managing Editor said 14,200 to 14,500 is the immediate range. It will be interesting to see which way market closes on Monday, he said. "The market hasn't closed below 14,300 or above 14,600. If Nifty closes below 14,300, it is a sign of further weakness and anything below 14,200 is bad. One should completely stop investing at this point. On the other side, if Nifty crosses above 14,500, it will hint at improvement in the index. Above 14,600, one could show aggressiveness and one can also cut all shorts. The market has been swinging either way during the whole day, but what is important is where it closes today," said the Market Guru. 

Notably, he added that recovery in the market will be led by Bank Nifty.