Polaris Consulting has rallied to 204+ levels, we wish to bring to your notice that it faces resistance from a long term trendline so far it has not managed to break the trend line. In absence of crossing the trend line prices won’t be able to touch the return line of the up trend channel for the current rally.Stochastic too is not supporting the uptrend, as their is divergence between the oscillator and price.We expect Polaris to move down and fall to levels of Rs. 183 very soon. Buying should be avoid unless price break 210 before hitting our target of 183.
Disclosure: At the time of publication of this post, our analyst is not registered with SEBI as a research analyst. Our analyst has an application for registration as a research analyst with SEBI pending for registration.