Infosys, Lakshmi Machine top trading picks: GEPL Capital

GEPL Capital is bullish on Infosys, Lakshmi Machine and has recommended buy rating on the stock in its August 7, 2012 research report.

Infosys has been recovering lately after a sharp sell off post its quarterly results in the month of July 2012. Though the medium term trend of the stock continues to remain firmly down as it has registered a bearish breach of an advancing wedge which has been forming ever since early 2003 till date. However, it appears ripe for a counter trend move till the bearish gap created after the severe sell off last month. We recommend a trading buy on the stock with a stop loss of 2200 for an upside till 2400 in a short span of two weeks.

Laxmi Machine was in a gradual downtrend since late 2010. However the stock recently managed to register a break out of a resistance trend line connecting its important swing highs. It has also conquered its 200 Day EMA with above average volumes. The momentum oscillators on the daily as well as weekly chart also support a potential upmove in the stock. It appears poised for a swift upmove till 2040 at least and beyond that the level of 2350 is attainable. We recommend a buy on the stock with a stop loss of 1575 for an upside till 2040 and higher in next two to three weeks.

Bodies Corporate holding more than 50% in Indian cos

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