Apr 13, 2012, 09.06 AM | Source: CNBC-TV18
Short Polaris, says Sudarshan Sukhani of s2analytics.com.
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.