The Indian markets witnessed a sharp correction amid escalating geo-political tension and weaker global cues as Rs 8.5 lakh crore of investors wealth was eroded on a single day on Monday. Metal, auto, banking and financial Servies were worst hit even as small cap and mid cap indices corrected over 4 per cent on manic Monday.  

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Nifty breached its previous support zones and closed with losses of around 530 points, Chandan Taparia, Vice President, Analyst-Derivatives, Motilal Oswal Financial Services Limited, said in post market commentary. 

"Nifty formed a bearish candle on a daily scale and has been forming lower highs - lower lows from the last two sessions. Now till it holds below 17000 zones, bounces can be sold and weakness can be seen towards 16600-16500 whereas hurdles can be seen at 17100 and 17300 zones," added Taparia.  

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Asian share benchmarks dropped on Tuesday as investors contemplated the implications of a potential imminent Russian invasion of Ukraine, said Reuters.   

MSCI`s broadest index of Asia-Pacific shares outside Japan was down 0.4% in early regional trade after stock markets in the United States and Europe lost ground on Monday. Japan`s Nikkei was down 0.2% while in Australia, the S&P/ASX200 was off 0.32%. 

Hong Kong`s Hang Seng Index slid 0.52% early in the session, although China`s CSI300 Index bucked the trend and was up 0.2%. 

In the US market, the Dow Jones Industrial Average fell 0.49%, the S&P 500 lost 0.38% and the Nasdaq Composite was essentially flat, losing just 0.24 point. 

Meanwhile, ahead of the market open, Zee Business research team shortlisted 20 stocks for profitable trade. These stocks have been identified from cash, Futures & Options and techno segments, keeping in mind short-term, positional and long-term investment. Below is the list of stocks handpicked by Zee Business research analysts. 

Ashish Chaturvedi Stock Picks 

CASH STOCK 

BUY GRAPHITE INDIA TARGET 500 SL 475   

FUTURES 

SELL CITY UNION BANK TARGET 129 SL 133.50   

OPTIONS 

BUY M&M FIN 147.50 PE TARGET 5.40 SL 2.60   

TECHNO 

SELL HDFC LTD TARGET 2250 SL 2340   

FUNDA 

BUY MOIL TARGET 194 DURATION 1 MONTH   

INVESTMENT PICK 

BUY NALCO TARGET 150 DURATION 12 MONTHS   

STOCK IN NEWS 

BUY COAL INDIA TARGET 165 SL 159.50   

MY CHOICE 

BUY FORTIS HEALTH TARGET 265 SL 255 

BUY HINDALCO TARGET 530 SL 515 

SELL ICICI PRU TARGET 490 SL 508   

MY BEST 

BUY NALCO TARGET 150 DURATION 12 MONTHS 

Kushal Gupta Stock Picks 

CASH 

Dredging Corp - buy - 334, sl - 319   

FUTURES 

TCS - Buy - 3835, sl - 3700   

OPTIONS 

LTTS 4450 CE@133 - Buy - 160, sl - 113   

TECHNO 

Cummins - buy - 983, sl - 940   

FUNDA 

Tata Consumer Products - Buy - 900 

Duration - 1 year   

INVESTMENT 

Vedanta - buy - 430, duration - 6 months   

STOCKS IN NEWS 

Kotak Mahindra bank - buy - 1800, sl - 1725   

MY CHOICE 

Tata Power - buy - 260 duration - 6 months 

ABB India Buy 2150, Sl 2050 

Dr Lal Path Fut sell 2600, Sl 2710   

My BEST 

TCS - Buy - 3835, sl - 3700