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Within a general intermediate downtrend, Nifty pulled back on Monday. However, the market breadth remained poor & resistance looms at 10460 till 10480 regions. Primary uptrend will be resumed only above 10700.

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In a generally declining market, IT stocks are holding well & Tech Mahindra is one of the outperformers in this sector. Buy at CMP with stop loss 600. A closing above 640 will be very bullish for Tech Mahindra.

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This is another IT stock on the verge of new breakout. Buy NIIT Tech above 915 with stop loss at 890 & target 950.

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HDFC has given a significant breakout above a one-month consolidation zone & warrants to be traded from the long side. One could therefore buy HDFC at CMP and add more at 1800 regions with stop loss at 1750 7 target 1950.

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After putting up a strong performance on 3rd week of February, V2Retail went into a phase of consolidation, but on Monday, it yet again showed signs of vigor. One may therefore buy this stock at CMP with stop loss at 400 & target 450.



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