Buy India Infoline, Mphasis: GEPL Capital

GEPL Capital is bullish on India Infoline, Mphasis and has recommended buy rating on the stocks in its October 3, 2012 research report.

India Infoline has recently moved above the resistance of its 200 Day EMA with good volumes. The stock has also given a break out above the level of 65 which was its immediate resistance and an important swing high. The momentum oscillators are also aligned on the positive side and indicate further upside. We recommend a buy on the stock near the level of 66 with a stop loss of 60 for an upside target of 77 and higher in a short span of couple of weeks.

Mphasis appears to be steadily inching higher since past few weeks in a counter trend advance post its severe decline from 770 odd levels till 300. The target of the counter trend upmove is placed at 475 as long as this stock manages to sustain above the level of 390. Short term traders may look to go long for this probable upside with a strict stop loss of 390 whereas higher levels would serve as an excellent opportunity to exit any pending stuck up long positions for long to medium term investors.

FIIs holding more than 30% in Indian cos

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