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We recommend a buy in IGATE Global Solutions at current price level. The downtrend that commenced in April made this stock give up almost 50 per cent from its peak. But it is trying to stabilise around Rs 210, having bounced from this level twice since August. On September 27, the stock broke through the medium-term downtrend line by jumping up by Rs 14 or 6 per cent, accompanied by strong volumes. The daily momentum indicators are rising from the bearish territory and sig nalling a buy. A conclusive penetration of the medium-term downtrend line as well as the 21-day moving average indicates a positive outlook for the near term. The immediate support for the stock is at Rs 210 and the next support is at Rs 180. Short-term traders can buy the stock with stop loss at Rs 224. We expect the stock to rally to the key resistance level of Rs 285 in the short term, with a minor pause at Rs 250-levels.

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