The stock has broken out and retested, therefore may undergo a reversal rally. Trade is supported by Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below the support zone & the lower trendline. The target is placed near resistance.
Polylplex - A good weekly breakout towards newer highs. Can be looked enter long. SL 780 weekly closing basis.
DISC: Not a SEBI Registered. I post charts for my own study.
Rs. 100 per share as dividend gives slightly more than 10% return. So expect the stock to fall on its Ex-date i.e. 17th Feb'21.
Targets as seen in Fib retracement.
#POLYPLEX 725 | Accumulate with long term perspective upto 660 levels at least for 2x/3x+ gains... Valuation | Dividend | P/E | P/B : Lucrative
Favorable Portfolio allocation : Upto 5% of Overall Capital
Price is printing on upward direction. 2nd time price has taken support on the uptrend line and consecutive 2 days printing higher high. Today there was upward move with increased volume during opening bell of the market. After that, price has traded in tight range during rest of the day. If there is break out above 746 level with increased volume price may test...
CMP 616
Long suggested around 610-620.
Stop 575
Logic:
Weekly chart
Cup pattern breakout with good volumes.
Fundamentals - Exponential growth in EPS and sales observed in the last 4 quarters / D-E 0.3 / Promoter holding 51% / Mkt cap 1970 cr and FF 980 cr.
