The stock market snapped a seven-day losing streak on February 25, the first day of the March series, with a 2.5 percent gain. The benchmark indices as well as the broader market weakened after Russian forces invaded Ukraine, which lifted oil prices to over $100 a barrel and took other commodity prices to either record high levels or multi-month highs. Net sales by foreign institutional investors were Rs 19,843 crore during the week.

 The Nifty 50 fell to about 16,200 during the week before bouncing back to close at 16,658, down 3.6 percent and still below the 200-day simple moving average (SMA 16,903), 50-day SMA (17,412) and 100-day SMA (17,577), the real technical cause of concern. The index must surpass 16,800-17,000 levels to gain strength, which is possible if geopolitical tensions ease. However, 16,400-16,200 will act as crucial support levels, experts said.

 “We can clearly see Nifty breaking below the sacrosanct moving average of 200-SMA, placed around 16,900. Since this has happened with a ‘breakaway gap,’ traders would continue to have challenging times till we reclaim 16,800-17,000 with some authority,” said Sameet Chavan, chief analyst-technical and derivatives, at Angel One.

 He said reaching 16,800-17,000 levels is possible in the near term only if tensions ease with respect to Russia and Ukraine and until that happens, “we are not completely out of the woods.”

 On the flip side, 16,400 followed by 16,200 are seen as immediate support levels but if things worsen from here, it won’t be surprising to see the Nifty sliding below 16,000 as well, according to Chavan.

 Since volatility is likely to remain on the higher side, traders are advised not to get carried away by a one-day bounce. It’s advisable to keep regular tabs on all developments and better to stay light on positions, Chavan said.

 Here are the top 10 trading ideas by experts for the next 3-4 weeks. Returns are based on February 25 closing prices.

 Shrikant Chouhan, head of equity research (retail) at Kotak Securities

 Tech Mahindra: Buy | LTP: Rs 1,389.7 | Stop-Loss: Rs 1,320 | Target: Rs 1,575 | Return: 13 percent

 The stock was at Rs 1,838 in December and from it fell to Rs 1,330 in February, without any meaningful bounce. However, it has spent a considerable amount of time between Rs 1,480 and Rs 1,390, which has generated a positive divergence on the daily chart.

 The risk-reward ratio is quite favorable for buying the stock at current levels. Buy at current levels with targets of Rs 1,500 and Rs 1,575. Put the last stop-loss at Rs 1,320.

 Trent: Buy | LTP: Rs 1,070.10 | Stop-Loss: Rs 950 | Target: Rs 1,200 | Return: 12 percent

 The stock has been consolidating within the range of Rs 975 and Rs 1,200 since September. Even when there was a huge drop in the market, the stock stayed at Rs 975, which suggests it is a real support level.

 Since it settled at Rs 1,070/1,080, our strategy should be to buy the stock in two tranches – 50 percent at current levels and the remaining 50 percent at Rs 1,025. At higher levels, the stock may again move towards the Rs 1,200. Protect the long position with a final stop-loss at Rs 950 on a closing basis.

 Canara Bank: Buy | LTP: Rs 218.45 | Stop-Loss: Rs 195 | Target: Rs 270 | Return: 24 percent

 The stock has declined gradually from a high of Rs 272.80 to Rs 206. The primary trend of the stock is positive. It is in recovery from the oversold zone in the short term and on an intermediate basis, it has corrected to decent levels.

 We prefer to buy and hold such shares from a positional point of view, as the risk-reward ratio is quite comfortable for buying the stock. Buy at current levels and more on the downside near Rs 208. Place final stop-loss at Rs 195 for targets of Rs 260 and Rs 270.

 Nandish Shah, senior technical & derivative analyst at HDFC Securities

 Timken India: Buy | LTP: Rs 2,061.35 | Stop-Loss: Rs 1,950 | Target: Rs 2,270 | Return: 10 percent

 The Timken stock price has broken out from a symmetric triangle on the daily chart. The primary trend is positive as the stock is trading above all important moving averages. The stock is forming a bullish, higher-top, higher-bottom formation on the weekly chart.

 The relative strength index (RSI) and money flow index (MFI) oscillators are placed above 60 levels and in rising upwards, indicating strength in the current uptrend. Also, the directional indicator (DI) is trading above -DI while the average directional index (ADX) line has started sloping upwards, indicating that the stock price is likely to gather momentum in the coming days.