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The broader index rose 117 points or 1.19% on weekly closing basis. It is also the highest closing in the preceding 4 weeks. Tuesday’s price of 9796 is now the make-or-break point for the short term uptrend in Nifty, which if holds in near future, we may see higher prices going forward.


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We notice a Morning Star formation on the weekly chart of Yes Bank, which nicely coincides with the pull back phase within a primary uptrend & in fact points out the end of the pull back phase. We recommend buying Yes Bank @ CMP with stop loss at 1686 & target 1900.


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CESC is undoubtedly one of the biggest outperformers in the broader market for the past several weeks & that was evident once again last Friday when it closed at yet another life high. Buy at CMP with stop loss at 999.


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ITC is still languishing of its huge mid July fall but since then, it has put up a remarkable resilience and recovering slowly but steadily. We identify ITC as a bit longer term play with stop loss at 270 and targeting for 320. Buy at current price.


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This NBFC stock is another outright bullish one and warrants a buy. One should buy on little retracement to 890 regions and put the stop loss at 860 while the potential target is 954.