Polycablong
POLYCAB Good for the entryPolycab india is good for the long term investment, this time the shre is breackout in the weekly box, this is only for the long time
Breaking out Polycab is breaking out from a range after 1 year 3 months consolidation, keep this scrip in radar.
POLYCAB!! MAJOR TRENDS!Polycab is a great stock with a good fundamentals.
i have drawn the major trends supporting from its IPO time and from corona's crash.
from past 14-15 months the stock is following the same channel, and has given about no returns.
since it has a good fundamentals and the sales are growing nicely, i see a good upside movement.
but on the flip side, this channel is acting like a consolidation part after the movement given after 2020 crash.
this also says the strength of the stock, which is preventing the stock to fall.
after 20th June, it has kept on rising, and recently it gave a pullback. but its a good stock to now buy, since it is landed on a good trend line, and will now rise further on.
in the couple of months, i see a good upside movement on this stock.
the large blue line which i have drawn is just a speculating line, if possibly the stock gets a good movement, it could go on further rising to that line.
All Time High Breakout ImpendingAs you can see, NSE:POLYCAB is trading near its all time high . It's good candidate for swing trading.
RSI (9) is also rising and technically one can enter the trade at breakout and retest of the resistance zone.
Hello Trader. If you like the idea, do not forget to support with a like and follow.
Above is purely my opinion. It doesn't mean that you need to trade accordingly. Please note that I'm not Sebi registered advisor or technical analyst . Trade on your own conviction and please consult your advisor before investing .
