The markets continues to trade volatile and in range giving opportunities to both long and short traders with major focus on global actions on a daily basis
Technically the markets looks into an oversold zones and any dip closer to 16200-100 for the nifty and 34200 for bank nifty can be a major opportunity to add longs for 16400-500 and 35000-35300 in the coming session as the markets are into oversold zones and the major supports exists at around 16200 and 35050 levels for the index
So the strategy remains to buy the dip or panic of comes near to the levels mentioned for the said targets and exit at resistance levels of 16500 and 35200 respectively as markets will be very volatile and swing both ways and one needs to be very vigilant and quick in trades
On the lower sides it will be viable to add stock specific and not sector specific, so stocks like icici bank, upl , sun pharma, triveni engineering remains top picks and buys
Selling must not be done at lower levels in stocks or index and the strategy must be buy on dips, however certain stocks may witness pressure like metals sector which has outperformed in last few sessions and stocks like tata steel, hindalco, national aluminum may see correction and profit booking and can be sold at higher levels alongside of buying put options in derivatives
Commodities may see profit booking at higher levels in bullions, base metals and energy
Stocks to watch
Nifty and bank nifty as mentioned above
Buy bank nifty 34400 ce 10 march on dips and 34400 pe 10 march on recovery or rise
Buy nifty 16200 ce 10 march on dips and 16300 pe 10 march on rise or recovery
Buy icici bank 680 ce
Buy upl 700 ce
Sell tata steel
Buy hindalco 600 pe
Buy triveni engineering
Sell crude, gold silver mcx
