Here's why Vinay Rajani of HDFC Securities is bullish on MphasiS, Sobha

The technical analyst sees Nifty support moving higher to 15,400, and resistances for the NSE benchmark at 15,750, 15,883 and 16,150.

Nifty View

After forming two consecutive “Doji” candlestick pattern on the daily Charts, the Nifty bounced back sharply on June 21. The support for the Nifty has now shifted up to 15,400. Resistances for the Nifty are seen at 15,750, 15,883 and 16,150.

Mphasis

BUY

Targets: Rs 2,450, Rs 2,550

Stop Loss: Rs 2,160

Last Close: Rs 2,285

The stock price has formed a bullish “Morning Star” candlestick pattern on the Daily chart. The RSI oscillator has been rising with positive divergence on the daily chart. Further, the IT Index has started outperforming. The stock can be accumulated between CMP and Rs 2,200, for