Okay, This one was #Requested by @Sensiiiii
Here is all you need to know about NSE:POLYPLEX :
- Stock depreciated about 60 % from its ATH
- It filled the long due Gap and took support from it
- Thence, It has been consolidating for 9 Months now
- Price trading below 200 EMA a.k.a accumulation phase
- The PE was 15 at ATH and after 60% Depreciation, it still...
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...
POLYPLEX
daily timeframe
Note Please leave comments for any query.
Disclaimer This is my trading experience, it is not an invite or recommendation to trade.
Best Wishes
PRABHUMAYAKANNAN
An undervalued stock in the packaging industry, Polyplex has been stressed in this bull run and is currently trading below its book value.
Volume is building up and DMI indicates buyers momentum building up. Any move above 1100 should propel the stock price upwards from here
Entry - 1100
Will update SL and Target once trade is triggered
Looks bottom finished
Can go up
Comp 1092
Target 1200++
Stop 1050
High dividend paying co
But last quarters were weak
Expect upcoming quarters will be positive
Exit if hit SL
Risk medium
The double bottom pattern is a bullish reversal pattern that occurs at the bottom of a downtrend and signals that the sellers, who were in control of the price action so far, are losing momentum. In this pattern Bottom 2 low act as a Stop Loss .
Rsi divergence are the best to identify potential reversals in stock price.. polyplex is retesting the previous support and bouncing back with good rsi divergence. Buying volumes in the recent times are increasing.. risky players can enter now for targets 1650 and 2150 with stoploss below 1070 wcb
Hi Team,
Polyplex corporation has made a double bottom on daily time frame. The stock is sustaining above 50 EMA on monthly and made a indecision candle too. Volume spikes can be seen too. Nice place to add is CMP- 1160/- with SL of 1100/-
Polyplex Ltd is at good level for a decent gains cmp is 1228
Safe traders buy above 1257
Sl 1100
Tgt 1472 1600
Risky traders buy and start accumulating at current levels with same sl and same tgt
Ask your financial advisor before buying only for educational purposes
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Chart is self explanatory. Please follow the price action & take the trade as per your appetite.
The information provided here is only for educational purpose. The information provided here is not intended to be any kind of financial advice, investment advice, and trading advice. Investment in stock market is very risky and trading stocks, options and other...
