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The stock of Poly Medicure is long-term trend reversal. The stock has just broken the downtrend in place since May last year. A further rise will confirm the same. The short-term outlook is also bullish. Immediate resistance is at ₹960. The chances are high for the stock to breach this resistance. Such a break can take the stock up to ₹1,030 in the next couple of weeks.
Support is at ₹925. Traders can go long at current levels. Accumulate on dips at ₹930. Stop-loss can be kept at ₹910. Trail the stop-loss up to ₹965 as soon as the stock moves up to ₹985. Move the stop-loss further up to ₹980 when the stock touches ₹995 on the upside. Book profits at ₹1,015.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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