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A 1,000-point drop in the Sensex is just a small dip in its long-term chart. Fretting over the short-term will only aggravate the concerns that an investor may have and cause them to bail out early on a promising investment.

Musk taking over Twitter is seen as a boon by a majority of crypto investors as he has been vocal about cracking down on the rampant scams that have been targeting amateur investors.

"Open Interest (OI) data in the current April series for Nifty50 indicates a Short build-up, and signals from technical indicators suggest that Nifty is likely to trade in the range of 17,250 – 17,750."

As the earning season heats up, we may see some heavy movement in individual stocks this week. Among the key earnings this week are Mindtree, ACC, L&T Infotech, Tata Steel Long Products, ICICI Securities, Tata Elxsi, HCL Tech, ICICI General Insurance, Nestle India, Tata Communication and Rallis India.

According to depositories data, FPIs have pulled out a net sum of Rs 4,518 crore from Indian equities during the holiday shortened April 11-13 week.

While Reliance Industries Ltd (RIL), TCS, HDFC Bank, Infosys, HUL, Bajaj Finance and HDFC were the laggards from the top-10 pack, ICICI Bank, SBI and Adani Green Energy were the gainers.

The healthcare, utilities, consumer staples and real estate sectors have posted gains so far in April even as the broader market has fallen, continuing a trend that has seen them outperform the S&P 500 this year.

The insurer’s value of new business (VBN), a measure of profitability, expanded 31% year-on-year (YoY) at Rs 775 crore for the quarter against Rs 591 crore a year ago. This was despite a 6.7% fall in new business premium to Rs 4,788 crore against Rs 5,133 crore.

As per the monthly options data, the strikes of 17,500 have the highest PUT OI accumulation, and it is likely to provide some support throughout the week. In any case, since Nifty has closed below 17500, it would be crucial for the market to crawl and keep its head above the 17500-mark.

"We are getting into a phase of correction and possibly we could now be looking at a new range on the index. On the downside, 17250 may act as a support and 17,800 could act as a major resistance."