Polyplex LONGChart has formed a double bottom in weekly timeframe. May be bought as cmp keeping the previous week low as sl.
POLYPLEX trade ideas
POLYPLEX WEEKLY BULLISH BUTTERFLY
price need to follow Green Trend line & hit target
If price Breaks Red Trend line is where EXIT before SL hits
BUY
POLYPLEX : Expecting a minimum of 20% in the near termPros
1. Dividend yield of 6.92% is being offered at the current levels which is very attractive especially for a small cap company.
2. The products have multiple usage across various industries since they are mainly into plastic packaging business.
3. Inflation and war scenarios in US and Russia has effected the demand and in turn effected their profit margin. 49% of their revenue in FY 22 was from US and Europe. So since these situations are over to some extend the demand is likely to grow in upcoming quarters.
Cons
1. Cyclical nature of plastic film sector.
2. If crude oil prices increase then the price of resin increases which is a byproduct of refining crude. This resin is the main raw material for producing plastic films.
Conclusion
Already had the position in the portfolio for quite a while for about 3.75% of the capital. Added one more 1.25% of the capital and summed up the total holding to 2.5%. Will hold onto the position for a minimum of 20% move to the top of the channel and depending on the market conditions at that time I might even consider holding it further.
Polyplex can playwell from herePolyplex Corporation Ltd. has the 7th largest capacity of polyester film globally. The company supplies it’s products to 2650+ customers in 75 countries across Europe, America, Far East, Asia Pacific, Middle East and The Indian sub-continent.
Polyplex Corporation CMP is 1357.65. Negative aspects of the company are declining annual net profits, declining cash from operations annual and FIIs are decreasing stake. Positive aspects of the company are no debt and zero promoter pledge. dividend yield of Polyplex at CMP is 7.8%.
Entry can be taken after closing above 1364. Targets in the stock will be 1395 and 1439. Long term target in the stock will be 1487 and 1536. Closing above 1537 can take a stock to very long-term target of 1650. Stop loss in the stock should be maintained at closing below 1263.
POLYPLEX POLYPLEX - High probability reversal of polarity set up accompanied by POC support.
One can add here with a SL of 1460.
View - medium term
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Polyplex BreakoutThe 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.
POLYPLEX NSE BULLISHVIEW ABOVE 1960Polyplex NSE is bullish if 1960 holds. New Lifetime High. Fresh Breakout. Positive Trend.
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POLYPLEX - breakoutSimple breakout. the follow up shoudl be bullish.
One can enter with a SL of yesterday's low.
Polyplex - Flexing towards newer highsPolylplex - 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.
Short Polyplex on Dividend Ex-DateRs. 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.
Long Term Wealth Creation Idea 2020 #3#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
On breakout above 746 it may test 830Price 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 the level near 830. May add this stock near 746 with the target of 830 for short term.
POLYPLEX - CUP PATTERN BREAKOUTCMP 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.
