Premier polyfil has shown a bounce from the 50 percent Fibonacci retracement level of advance from 95(Dec2022)to 118(Dec2022).
In the latest week, the prices have given a breakout of the rectangle pattern, indicating continuation of prior uptrend.
Prices are hovering around the upper Bollinger band on Daily timeframe which show the rising volatility of the trend for an up move.
RSI on the daily timeframe as well as on weekly timeframe are above 118 mark, reflecting rising momentum of the underlying.
Going ahead we expect the prices to go higher till the level of Rs 128 where the stop-loss must be Rs 105. 50 on the closing basis.
