Buy Polaris; Hold Mahindra Satyam: Kulkarni

Shardul Kulkarni, Sr.Technical Analyst, Angel Broking is of the view that one can buy Polaris Financial Technology on decline. He further says that one can hold Mahindra Satyam with a stop loss of Rs 98 or Rs 98.50.

Kulkarni told CNBC-TV18, "In Polaris Financial Technology rally looks quite extended. So, I would look at booking atleast some partial profits and if I was a trader, looking at from an investment perspective completely different ball game. Trading perspective, I think one should book profits, stock is already up 6.5% in today's trading session, was up by about 5-5.5% yesterday. So good 10%in two days, book some profits, you may get a decline towards Rs 130 but at Rs 130, I would be a buyer in case of Polaris because it is a very strong move which we have seen from Rs 116 to Rs 138. So on declines, it would be a buy." He further added, "In case of Satyam what we are seeing is that there is negative divergence on the charts for Tech Mahindra as well as that for Satyam. But so long as the stock stays on a good strong higher top, higher bottom, I think it makes sense to hold on to long positions although I would not have the courage to buy Mahindra Satyam at the current market price if someone was already holding the stock. Yes, you can hold on with a stop loss of Rs 98 or Rs 98.50 and hold on to the long positions so long as that particular level is not breached on the downside." Disclosures: It is possible that we have positions in the stocks discussed and we have recommended them to our clients.