Polaris Software Lab Ltd. CMP— `185.55 We recommend going short in this counter at current levels.

Technical Outlook:-
The share price of Polaris has registered a breakdown from its cluster of short term moving averages.  The momentum indicators remain in the declining trajectory and indicate weakness.  We believe that the stock price could test its next support levels of `178 (200 DMA) and below that the share price movement is likely to decline further for targets of `172 levels shortly.

Suggested Trading Strategy:-
We recommend traders to sell the stock at current levels and again on pullbacks towards `189 - `190 levels with a stop loss placed above `192.65 levels for the above mentioned targets.


Gujarat Mineral Development Corporation Ltd. CMP— `145.20 We recommend going long in this counter at current levels.

Technical Outlook:-
The important observation to be made on the price chart of GMDC is that the price movement since 26th Nov, 2011 to till date has formed a Bullish Inverted Head & Shoulders pattern on the daily chart. Traders would note that the Inverted Head & Shoulders pattern is one of the most acclaimed bullish reversal patterns. The Measuring implication of this pattern suggests a price target of `164 – `182 levels. The RSI indicator on the Weekly chart is also in buy mode. The stock is also sustaining above its key medium and long term moving average.

Suggested Trading Strategy:-
We recommend traders to buy 50% now and again in the range of `143 – `144 levels with a stop loss placed below `139.80 levels for targets of near term targets of `154 –`160 levels, expected to be achieved over the coming 3-4 sessions of trade.