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We recommend a buy in Avaya Global Connect at current market price. It is clearly visible from the charts that the stock had been on a downtrend between early June and late November (from an high of Rs 414 to a low of Rs 233). The stock reversed from the support level at Rs 233 and a short-term up trend is currently underway. This up move has breached the 21-day and 50-day moving average line one after the other. On December 12, the stock penetrated the down trend-line by gaining 5 per cent with good volumes. The daily momentum indicator is featuring in the bullish territory. The daily moving average convergence divergence has entered positive region. The immediate support for the stock is pegged at Rs 233 and the next support is at Rs 208. The immediate resistance is at Rs 335. Our conclusion, emerging from the above argument is bullish. We expect the stock to move up the resistance level of Rs 335 in the short-term. Short-term investors can buy the stock while keeping their stop-loss at Rs 274.

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