morning thoughts...

The markets inched towards 17500 and 37000 and saw a minor profit booking the last session which can take the nifty to 17150-200 and bank nifty to 35600-500 which remains as the crucial supports for the indices and as long as the said levels are maintained the markets have the potential to bounce back again to levels of 17500-700 and 37500-38000 on nifty and bank nifty respectively in the coming sessions

Technically 17000 remains as a crucial supports for nifty and 35350 for the bank nifty , as long as both are maintained the markets are a buy on dips , only on breaking the said levels the markets will enter into a correction mode and lower levels will be opened

Sectoral shifts and stock specific activities will be very high and huge oppurtunities are visible in metals , energy, media sector and stocks like zee tv , adani gas , tata steel , hindalco , tata power , itc , pvr , indian hotels will outperform the markets on upper side in futures and options an we hold long positions in same

We will also like to add nifty in futures and options at lower levels with the said supports for higher targets , similarly bank nifty will be added

Commodities remains a sell on rise in base metals , energy and bullions

Stocks to watch

Buy nifty and bank nifty on dips till supports and as mentioned above

Buy zee 260 ce

Buy pvr 

Buy nifty 17200 ce 24 march on dips to supports mentioned above

Buy bank nifty 35800 ce 24 march on dips to supports mentioned above

Sell crude , silver , gold mcx