Polyplex Corporation is a container and packaging company with a market cap of about Rs 7,300 crore. The stock made a lifetime high yesterday, March 22, and moved up as much as 20 percent in the last 5 days.

This is backed by volumes because the 5-day average volumes are 2.6 times as compared to the one-month volume. Similarly, deliverable volumes are also 1.8 times; the 5-day deliverables compared to 1 month.

In terms of the near term support, considering the stock has moved up quite sharply in the last few days, expect 5 days low at around Rs 2,095 and a 20-day moving average (DMA) at around Rs 2,009.

The key triggers, in this case, are improved prospects with respect to demand for the company's products as well as the entire industry is seeing an improvement in spreads and that’s the reason why there is strength in Polyplex.

Watch the accompanying video of CNBC-TV18’s Agam Vakil for more details.

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First Published:Mar 23, 2022 9:40 AM IST