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Following a turbulent trading session on Monday, domestic stock indices ended the day with modest declines. Negative global cues damaged investor confidence. The BSE Sensex closed at 71,315.09, down 168.66 points, or 0.24 percent. The NSE Nifty finished the day at 21,418.65, down 38 points, or 0.18 percent. YES Bank Ltd., Vedanta Ltd., and JSW Energy Ltd. are three Dalal Street stocks that are probably going to stay in the spotlight today.

With a move past the previous resistance zone of Rs. 22,40, YES Bank has seen a respectable gain. More volume participation has also helped to improve the bias. The previous peak zone of Rs. 24.75 level, where it may encounter some resistance, is where one can anticipate the stock to rise even further. Around Rs 22 would be the short-term support. It is expected that bias will continue to rise in the upcoming days as it improves.

Following a mild decline to cross over the significant 200-period MA of Rs 258 level, Vedanta has gradually bounced back from the low made around the Rs 211 zone.

The RSI is also showing strength, so with the overall trend improving, one can expect a further rise in the upcoming days. The bias would only be lessened by a clear breach below the Rs 246 threshold.

JSW Energy has shown signs of a respectable retreat from the critical Rs 380 50-EMA level. The bias has been strengthened as the stock has broken above the previous peak zone of Rs 449. The stock recently saw profit booking and held onto its resistance around Rs 477 levels. At the Rs 410 level, which is close to the important 50-EMA, the near-term support is evident. The trend will only become weaker overall if a clear breach below the Rs 400 level is verified.

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