The budget is an important economic event for India. Trading today will be highly volatile and needs right strategy to survive the choppy market due to sudden spikes expected during the intraday session. The market is expected to be bullish for the first half and might take a sideways turn in case no solid foundation caught from Budget announcement to dalal street.

Take a hedged position and sell puts if market opens with a gap-up and take a covered call by buying little in-the-money put option to make any movement less risky. Alternatively, a short straddle can also be formed for safe strategy trade.

Market will be volatile and traders should book profit with right position sizing and reward targets.