Polyplex Corporation Ltd is an Indian multinational company which produces biaxially oriented polyester (BoPET) film for packaging, electrical and various industrial applications. The company is a major exporter of PET film to the United States, Europe, Southeast Asia, South America and Australia.
The key product line of Polyplex continues to be its Sarafil range...
After downturn in the most of the packaging sector, looks like the selling is over. Check Uflex, EPL etc
Break out of a rectangle, retracing. Accumulate slowly like a SIP. Exit at 1020-1000.
Dividend Stock. No targets, if it moves up then move the stop loss up and let it ride.
Polyplex double bottom player with bullish rsi divergence
can look for 1370-1380 in coming days with stop of
1090 on daily closing basis
dc : only for educational purpose
Weekly (CMP: INR 1210)
-Stocks has given a downfall of 61% from All Time Highs
-Currently, the stock is moving in a channel
-Made Double Bottom along with Shortening of Thrust as per Wykoff
-RSI is showing Bullish divergence
-There is Fibo Support of 78.6 levels
-Target would be 1500 levels with SL 1100
Note: The above analysis is for educational purpose.
This analysis aims to provide a detailed assessment of POLYPLEX's daily chart, focusing on its technical indicators, including the support level, harmonic pattern, and RSI divergence. Based on this analysis, a potential trade strategy is proposed to take advantage of the identified patterns and signals.
Technical Analysis:
Examining POLYPLEX's daily chart...
Looks like possible formation of double bottom on weekly basis. Observe the chart near the end of trading session on Friday 1st Sept 23.
Do check other indicators and apply your own study before taking entry.
Check the chart The trend positive few days 5% and shot term 25%
Note : I am not SEBI registered and all Ideas posted by me are for Educational Purpose.
Thanks & Regards,
RK
Polyplex has seen 66% retracement of rise from march 2020 bottom & after that we saw 1st 5 waves rise from 1100 to 1630 which has also done almost 66% retracement now todats move looks like reversal candle & it can touch 1900+ levels view invalidates below 1275.
Not a SEBI registered analyst chart shared for education puprose only
Clean 5 wave rise from 1101
Subsequent fall stopped at 66%
Today's Price action indicating strong reversal
On the upside 1490-1520 will be important range to cross
Lets see how this develops
Buy for 1490 Target with 100 SL
OPackaging stocks have been hammered a lot... with minor Debt Equity ration and good dividend yield results will be better
Very early to predict for upside but great company and management nd fundamental give confidence to go long so buy mey be we have to take one more entry
VERDICT POLYPLEX
Retracing from Long Term Support
Fundamentals Very Strong , Big Rumors
Indicators Bullish
T1 1805
T2 1925
SL 1700
Only For Study Purpose
