Apr 13, 2012 09:06 AM IST | Source: CNBC-TV18

Short Polaris, says Sudarshan Sukhani

Short Polaris, says Sudarshan Sukhani of

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Short Polaris, says Sudarshan Sukhani of

Sukhani told CNBC-TV18, "Polaris charts are not conducive. The worst we are entering into a downtrend and at best it will go through a reaction. In either case it’s looking at lower levels and I don’t think whatever Infosys says will affect Polaris except maybe for a few hours or maybe couple of hours. So the charts and the trends are down. Polaris is a short sell infact there is a rally which starts showing signs of fizzling out then sell in strength."

He further added, "Arvind is a buying opportunity. It has been falling. What now I think is probably a correction rather than a downtrend although it’s fallen a lot. For the last ten days it's making a trading range, it's still in that range, hasn’t come out of it. But the sign suggests that a breakout on the upside is more likely, so here we are taking risk and saying we are anticipating a breakout and today could be a good day for Arvind, yesterday was a cheerful day and if that is so we are participating in the breakout rather than buying after it."

"There is a stop loss, such trades always have to be with a stop loss which should be strictly adhered to but beyond that Arvind maybe completing a correction and it is certainly a positional buy."

Disclosure: I have no personal holding in the above stocks.

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