Since, I was not able to use all the latex commands in Code even after using the %%latex keyword or the $..$ limiter, I installed the nbextensions through which I could use the latex commands in Markdown. After following the instructions here: https://github.com/ipython-contrib/IPython-notebook-extensions/blob/master/README.md and then restarting the Jupyter and then localhost:8888/nbextensions and then activating "Latex Environment for Jupyter", I could run many Latex commands. Examples are here: https://rawgit.com/jfbercher/latex_envs/master/doc/latex_env_doc.html
\section{First section}
\textbf{Hello}
$
\begin{equation}
c = \sqrt{a^2 + b^2}
\end{equation}
$
\begin{itemize}
\item First item
\item Second item
\end{itemize}
\textbf{World}
As you see, I am still unable to use usepackage. But maybe it will be improved in the future.