digijagan

Trend reversal on POLYPLEX

Long
NSE:POLYPLEX   POLYPLEX CORP
POLYPLEX formed double bottom on daily chart. Price broke out of the pattern with strong bullish candle. Note the volume spike on green days and low volume when price was falling signaling sellers are dried out. One can consider having stop loss just below previous swing low and target and resistance level. Supporting this RSI also shows divergence on both the bottom signaling bullish momentum. This setup has ideal risk reward ratio.

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