The markets around the world have respected their lower boundaries. Profitable and weak short positions are being squared off. Dow has closed just near its 7200 levels -is a good sign for bulls. But fresh long positions at current levels would require strict stop loss because the markets are not out of the woods yet. It would have to be seen as to what kind of close we get this week. Until then the levels given in stocksweekly are relevant.

Long straddle:-buying call option and put option of a nearby strike on NIFTY in April or June series would be the best strategy at this juncture. This is not an intraday strategy. Hold it for bigger swing in either direction in days to come.
This strategy can be applied in any market according to the instruments available there.