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One should keep a bullish view in the stock market. The Nifty50 is expected to move higher from the support zone of 16900-17000 range. Traders can keep a stop loss below 16640 on a closing basis, says Rameshver Dongre, Research Analyst - Equity Research at CapitalVia Global Research. In an interview with ETMarkets, Dongre said: Investors /traders should keep a close eye on interest rate changes because that can trigger additional price action, Edited excerpts:

What a week for Indian markets dominated by global cues. The Nifty50 is still trading below Budget Day lows. What led to the price action?The collapse of Silicon Valley Bank and Signature Bank in the US has affected financial markets across the world, and we saw a downside movement in the Indian markets last week.

On the higher side, the Nifty50 could face some resistance around 17,400 and 17,550 levels.

In terms of sectors, banking stocks fell the most. What led to the price action? Is it the global contagion fears that led to fall in banking stocks?The failure of Silicon Valley Bank and Signature Bank in the US has caused unfavorable perceptions of banking stocks, leading to a decline in the share prices of these stocks.

In addition to the fact that the IT index could close above the 200-day SMA. Investors should concentrate only on quality stocks of blue chips companies during this correction phase.

UltraTech Cement and Aditya Birla Capital, as well as textile raw materials like Viscose Staple Fibre (VSF) and viscose filament yarn, chemicals, and insulators. The business belongs to the Aditya Birla Group.

As per the past performance data the company is expected to deliver good returns.

Things that traders should avoid doing after a steep fall in markets even if their stop losses got hit?Trading is a very serious business for traders should follow disciplined trading rules are mentioning here-1)Buy/Sell in liquid stocks- Typically, an asset with a narrow bid-ask spread will have high liquidity.

2)Do not overtrade: If you increase the number of trades, the quality of your trades can suffer.

3)Avoid making emotional decisionsbuying, selling, or holding should be based on research, not the individual's emotions.

4)Always use a stop loss - To limit the risk, always use a stop loss. Before initiating a trade, one should have clarity about the exit point in advance.

5)Concentrate and stay focused - with Dedication and a Focused mind can be a winner in Day Trading

6)Avoid rumors and news - If you do it using technical analysis, then you must avoid rumors and media news.

7)Analyze and make notes - Learn by analyzing and back-testing the process.

8)Don't be an investor in this situation - Last but not least, while doing intra-day trading, if trades do not go in your direction, one should not be an investor to avoid current losses.

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

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8 rules to keep in mind after steep fall in markets by Rameshver Dongre - Economic Times