Polyplex Corporation – Daily Chart Analysis

This is a classic Cup & Handle breakout candidate, and the chart has just reached the most important decision zone. Structure Analysis Stage 1 – Long Decline Stock corrected from around ₹1,020 to ₹780. Sellers dominated for several months. Stage 2 – Cup Formation Rounded bottom developed from December to June. This is exactly the type of accumulation pattern institutions prefer. The right side of the cup has now reached the prior resistance. Stage 3 – Breakout Attempt Current price: ₹1,018 Resistance: ₹1,012–1,020 The stock has finally closed above the neckline area. Why This Setup Is Attractive ✅ Rounded cup is well formed. ✅ Breakout happening after 8–9 months of consolidation. ✅ Strong bullish candle near breakout. ✅ Resistance tested multiple times, increasing the significance of a successful breakout. ✅ Risk can be clearly defined. This is a high-quality long-term base breakout setup. The stock has spent almost 9 months building a rounded accumulation pattern, and price is now attacking the neckline around ₹1,020. Confirmation level: ₹1,020–1,030 weekly close. Upside potential: ₹1,250–1,280 over the coming months if the breakout sustains.