Polaris Software is one of the active mid-cap infotech stocks. For the past few days it has been consolidating in the range of Rs 100 and Rs 110.
Moreover it's 200 DMA is currently placed at 107. I have provided a line chart ( or Closing price chart) which suggests that a close above Rs 110/- should lead to further buying in the stock.On break out one may keep a stoploss at 100/- and expect a calculated target of Rs 138-140.
Other technical parameters (not depicted here) are also suggesting an upward bias and a likely change in trend to up.
Happy trading!
CA Rajiv D Khatlawala
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