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Home > Stock Market > Anil Singhvi explains what lies ahead for Nifty, Bank Nifty as monthly expiry looms large

Anil Singhvi explains what lies ahead for Nifty, Bank Nifty as monthly expiry looms large

The September month expiry week has arrived and it is on 24th September. Stock markets started on a high, followed by rise and falls. How should the investors prepare themselves for the monthly expiry? Zee Business Managing Editor Anil Singhvi gives a detailed insight into this most important thing. See here! 

The Market Guru said that the current situation indicates that there would not be a big rise or fall on the day of the monthly expiry and the Nifty is expected to remain range bound. Singhvi said that he expected the market to trade in the range of 200-250 points.

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He however warned investors of Bank Nifty saying that there could be some volatility. He said that this index is not exhibiting strength as of now. 

The data on Nifty suggests that it is likely to trade around Rs 11500. There is a strong support around 11325 and 11375 in this week. At higher levels, there is a resistance around Rs 11600-11650. 

The trading activity is likely to be around these important levels, unless there is some news that could trigger the market negatively or positively further.

One cannot rule out big developments on the global or local fronts around this time of expiry. A big move may come riding on developments, but the data is suggesting otherwise.  

As for Bank Nifty, the level around 22000 is very crucial and the index ended close to this level on Friday. There are no indications of expiry getting above the 22500 level. If the bank Nifty manages to sustain 22500, it will be good otherwise there is a downward opening of further 500 points, the Managing Editor said.

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Singhvi said that he was not too confident on expiry of Bank Nifty as the data does not give a clear picture on this, he added.

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