The market failed to sustain its morning rally and finished lower on March 10, with selling almost across sectors. The market breadth turned negative, with about 2,171 shares declining against 500 rising shares on the NSE. Below are some trading ideas for the near term: Jigar S Patel, Senior Manager – Equity Research at Anand Rathi. Jay Thakkar, Vice President & Head of Derivatives and Quant Research at ICICI Securities Reliance Industries Futures | CMP: Rs 1,240 Reliant Industries has reversed sharply on account of short covering in the stock. Nestle India futures witnessed huge shorts in the futures, i.e. prices have reversed from the lower levels, for the second time. This indicates that short covering has been confirmed as well as options activity has been high in this series. The stock is trading well above its maximum pain level, as well. as its 20-day VWAP levels. The immediate resistance is at Rs 3,000, where the highest call open interest resides, the upside probability is higher in this stock. We advise buying SRF futures in the range of Rs 2,880 to Rs2,970.