Daily Bullish Flag Breakout in Pharma stockA Bullish Breakout of Flag and Pole pattern is visible on the Weekly chart of NSE:POLYMED
MACD already gave Positive crossover on Daily and Monthly chart. So, expecting the momentum to continue.
One can create a fresh position in the scrip as per the levels mentioned on the chart.
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Risk Disclaimer:
The information provided in this analysis is based on my personal interpretation of market conditions and the available data at the time of writing. It is advisable to seek advice from a qualified financial professional and to conduct your own research before making any investment decisions.
Polymedicure
A clear breakout in Poly Medicure.A clear breakout has been seen in Poly medicure. But as we can see it's already given 15 % move within two trading days. So, we have to wait and see if it is sustaining above the resistance level, if it does then we are ready to go.
Fundamentals Analys.
If we talk about the fundamentals, this stock has covered good profit growth of 20.5% CAGR over last 5 years and ROCE is almost 19%. It has been observed that Promotor holding has increased by 8% which is a healthy sign. One could consider for long term as well.
POLYMED - Trading opportunity is discovered - Swing TradePOLYMED is trading at weekly & Daily Demand zone, This demand zone is also visible in lower Timeframes.
We can see that the selling volume is decreasing, so we can set our stop loss below the support zone and plan our trade accordingly.
I can conclude that this is a trade with Low Risk & High Reward.
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POLYMED - Ichimoku Bullish Breakout Stock Name - Poly Medicure Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 1045
#This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market.
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POLYMED - Buy IdeaPOLY MEDICURE is a Medical Device manufacturing company that has been on a good rally. Especially given the COVID situation and the need for medical and surgical equipment, the company is stand to gain. Also, India is still lacking in Health care fronts compared to Global Peers hence Government has been continuously pushing the Sector. Good fundamentals and should be accumulated for long-term investors.
Add in Dips near the short and long term Fibonacci levels.
PolyMed : ObservationsBreak above 544/550 levels will be a good bullish sign.
Day close above these levels :
Possibility 1 : consolidation and sideways after BO. Good chance to accumulate.
Possibility 2 : blast above 550, straightaway 10/20% move. In such case, better to wait for a pullback for entering.
Close below 470 levels will be a sign of a weakness.