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Kindly advise on outlook of Polaris Financial April futures bought at Rs 164 . - Sarvesh Goel
Polaris Financial Technology (Rs 154.5): The stock now finds a crucial support at Rs 132. As long it stays above this level, the long and medium term outlook remains positive. However, in the short-term, the stock may face some pressure. It finds strong resistance at Rs 175 and support at Rs 148. A close above Rs 175 would trigger a fresh rally for Polaris. Immediate resistance appears at Rs 166.
F&O pointers: The Polaris Software futures added fresh shorts on Friday. Rollover to May series is very poor.
Strategy: If you can afford hold or even rollover your long position with a stop loss at Rs 148 (spot price on a closing day basis).
NOTE: The analysis and opinion expressed in this column are based on F&O data available at this point of time and on technical analysis based on past price movements. There is risk of loss in trading.
Feedback may be sent to >f&o@thehindu.co.in or >blfuturesoptions@gmail.com
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