Buy Polaris Financial Technology For Target Rs.260 and Rs.280 - Sharekhan

Polaris heading north pole Polaris Financial Technology has formed an  inverse headand- shoulders pattern and has  already taken off its previous monthly swing’s high.  This confirms that the next five-wave rise has  started as the previous rise was a clear  five-wave rise. The momentum indicator,  Know Sure Thing (KST), is well in buy mode on  the monthly chart and it has just provided a buy  cross-over on the daily chart which is also a  positive sign for bulls. The weekly KST is, however, in sell mode which indicates that the  stock needs to surpass its previous weekly swing’s high of Rs217.70 in order to gain  strength. Based on the above mentioned observations we feel that the risk/reward ratio is  quite favourable for the bulls. Hence, we recommend initiating longs at these levels. Trading strategy Buy Polaris Financial Technology at the current market price of Rs204.50  for the targets of Rs260 and Rs280 with a stop loss at Rs174. Risk: Reward 1: 1: 1.82 Risk: Reward 2: 1: 2.47 Risk: 204.50 – 174 = 30.50 Reward 1: 260 – 204.50 = 55.50 Reward 2: 280 – 204.50 = 75.50 To Read Complete Report Click Here Above views are of the author and not of the website.