POLYMED - Breakout from Descending Triangle with Volume💹 Poly Medicure Ltd (NSE: POLYMED)
Sector: Healthcare & Diagnostics | CMP: ₹2,063.40 | View: Descending Triangle Breakout + 52-Week Volume Expansion
📊 Price Action
Poly Medicure finally broke out from a six-month descending structure with a sharp bullish candle. The move came after sustained compression near ₹1,800–₹1,850 support and resulted in a clean trendline breakout with the highest daily volume of the year.
Chart Pattern: Descending Triangle (Breakout in Progress)
Candlestick Pattern: Bullish Engulfing (Formed at Lower Boundary of Triangle – Base Support Zone ₹1,800–₹1,850)
📈 STWP Trading Analysis
STWP Trade Setup
Bullish Breakout: ₹2,094.30
Stop Loss: ₹1,829.30
Possible Intraday Demand Zone: 1869.50 - 1850.20
Possible Swing Demand Zone: 1869.50 - 1832.90
Momentum: High
Volume: 52-week breakout
This marks the possible conviction zone — where price, pattern, and participation align perfectly.
🧭 Support & Resistance
Support 1: ₹1,908 – immediate retest zone
Support 2: ₹1,752 – mid-base accumulation area
Support 3: ₹1,659 – final demand base
Resistance 1: ₹2,156 – near-term resistance
Resistance 2: ₹2,249 – previous supply pocket
Resistance 3: ₹2,404 – key breakout target zone
🔢 Fibonacci Levels
Retracement from the ₹3,000 high to ₹1,700 low shows:
38.2% level: ₹2,160
50% level: ₹2,350
📈 Volume & Momentum Setup
RSI: back above 61 — momentum returning
MACD: bullish crossover with growing histogram
CCI: high but justified by volume expansion
The breakout candle printed the highest daily volume in a year, confirming institutional accumulation.
While the weekly chart remains in recovery mode, the daily structure is already in breakout alignment.
🧩 STWP Summary View
Momentum: Strong
Trend: Early Reversal Attempt
Volume: Extremely High
Risk: Moderate (Stop below ₹1,830)
Bias: Bullish above ₹2,100 | Neutral below ₹1,850
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⚠️ Disclosure & Disclaimer – Please Read Carefully
This post is created purely for educational and informational purposes and does not constitute investment advice or a buy/sell recommendation.
I am not a SEBI-registered investment adviser. All observations are based on technical studies and publicly available information.
Trading and investing involve risk; please manage position size and stop-loss discipline as per your risk profile.
Always consult a SEBI-registered financial advisor before making trading decisions.
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Position Status: No active position in (POLYMED) at the time of analysis.
Data Source: TradingView & NSE India
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