Buy Polaris @ 131, current market price(17 Aug 2011, 14:15 time)
Maintain stop loss around 124 and target will be 144.
Polaris has came down sharply from 181 to 124 level, it is still in downtrend but we have seen some buying in today session, may be it is short covering in stocks future segment. It is going to make Engulfing pattern which very strong reversal pattern. This can take stock 144 which is 38.20% retracement of recent top to bottom.
In this scenario stock pull back sharply but always maintain strict stop loss for avoid major losses.
See syllabus for Technical analysis training in Mumbai,India.
Please read our disclaimers before investing http://tradingkamai.blogspot.in/p/disclaimer.html
Maintain stop loss around 124 and target will be 144.
Polaris has came down sharply from 181 to 124 level, it is still in downtrend but we have seen some buying in today session, may be it is short covering in stocks future segment. It is going to make Engulfing pattern which very strong reversal pattern. This can take stock 144 which is 38.20% retracement of recent top to bottom.
In this scenario stock pull back sharply but always maintain strict stop loss for avoid major losses.
See syllabus for Technical analysis training in Mumbai,India.
Please read our disclaimers before investing http://tradingkamai.blogspot.in/p/disclaimer.html
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