POLYMED - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 19 Sept 25, 2:16 pm

Technical Rating: 3.7

Here’s a detailed technical analysis of Poly Medicure Ltd (POLYMED)

📊 Trend Overview

Current Trend: The stock is in a mild uptrend, trading just above its 50-DMA (₹2,052) but still below its 200-DMA (₹2,188). This suggests early recovery but not a confirmed breakout.

52-Week Positioning: At 15.9% of its 52-week range (₹1,821 – ₹3,358), POLYMED is near its yearly lows, indicating potential for upside if momentum sustains.

📈 Momentum Indicators

RSI (55.6): Neutral to bullish. Indicates moderate strength and room for further upside before entering overbought territory.

MACD (-4.09): Slightly negative, suggesting recent loss of momentum. However, the flattening curve hints at a possible bullish crossover.

Volume: Current volume (4.42L) is more than double the 1-week average (2.03L), indicating strong participation and potential accumulation.

📉 Chart Patterns & Moving Averages

Price Action: The stock has bounced off its 50-DMA and is attempting to reclaim the 200-DMA. A breakout above ₹2,100–₹2,150 would confirm trend continuation.

Support Levels

₹2,050 – 50-DMA and recent swing low

₹1,980 – psychological support

Resistance Levels

₹2,100–₹2,150 – short-term resistance zone

₹2,250–₹2,300 – 200-DMA and historical resistance

📌 Bollinger Bands

Price is near the middle band, with bands slightly expanding. This suggests building momentum and potential for a breakout if volume sustains.

🎯 Entry & Exit Zones

Action Price Zone (₹) Rationale

Entry 2,000–2,050 Near support and 50-DMA

Exit (Short) 2,100–2,150 Resistance zone, potential profit booking

Exit (Long) 2,250–2,300 If breakout sustains above ₹2,150

🔍 Market Behavior

Trending: Mild uptrend, supported by volume and RSI.

Consolidating: No, price is expanding with momentum.

Reversing: Not currently. MACD is weak but improving; watch for crossover.

🧠 Summary

POLYMED is showing early signs of recovery with price action above its 50-DMA and strong volume. RSI supports bullish bias, while MACD needs confirmation. Traders may consider accumulating near ₹2,000–₹2,050 and watch for breakout above ₹2,150 for further upside toward ₹2,300.

Let me know if you'd like to explore similar setups in the healthcare or medical device sector.

Edit in a page