Rising Wedge breakdown in POLYCABPOLYCAB INDIA LTD
Key highlights: 💡⚡
✅On 1Day Time Frame Stock Showing Breakdown of Rising Wedge Pattern .
✅ Strong bearish Candlestick Form on this timeframe.
✅It can give movement up to the Breakdown target of 4566-.
✅Can Go short in this stock by placing a stop loss above 5498+.
POLYCAB trade ideas
Polycab again ready for big upswing For all trade on my Auto Harmonic patterns indicator trade setup -
Risky trades can take trade after crossing 23.6% on either side and safe traders can take trade after 41% We can start buying when our Trailing SL hit at 23.6% with SL of recent low our Target will be 41%, 78.6% , 127.2% 161.8% and 223.6 % , when reversal pattern appears on chart we have to trail our SL if trailing SL hit exit from long trade and initiate sell trade ,
[HP] Polycab Short IdeaPolycab is India’s leading manufacturers of cables and wires and allied products such as uPVC conduits and lugs and glands. We have a range of cables and wires for practically every application. More recently Polycab has also launched a wide range of consumer electrical products like Fans, Switches, Switchgear, LED lights and Luminaries, Solar Inverters, and Pumps.
But it is trading at 11.8 times the book value!!
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
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I use shorthands for my trades.
"Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.)
"Intraday" -means You must close this position at any cost by the end of the day.
"Theta" , "Bounce" , "3BB" or "Entropy" - My own systems.
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I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share.
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Like -
Always follow a stop loss.
In the case of Intraday trades, it is mostly the "Day's High".
In the case of Positional trades, it is mostly the previous swings.
I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives.
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POLYCAB - re-test and heldPOLYCAB went sideways for a month after making ATH. Broke out of rectangle with Volume and now did a re-test of the level - held so far.
Safe traders can take a position with a SL of < 4920 on daily close basis
Risk takers can go with SL of 4850 on daily close basis
Potential targets
Target 1 - 5100
Target 2 - 5200
Target 3 - 5350
POLYCABPolycab is India’s leading manufacturers of cables and wires and allied products such as uPVC conduits and lugs and glands. We have a range of cables and wires for practically every application. More recently Polycab has also launched a wide range of consumer electrical products like Fans, Switches, Switchgear, LED lights and Luminaries, Solar Inverters, and Pumps
Market Cap
₹ 51,483 Cr.
Current Price
₹ 3,438
High / Low
₹ 3,490 / 2,044
Stock P/E
40.5
Book Value
₹ 443
Dividend Yield
0.41 %
ROCE
28.4 %
ROE
20.9 %
Face Value
₹ 10.0
Promoter holding
66.2 %
EPS last year
₹ 84.8
EPS latest quarter
₹ 28.4
Debt
₹ 169 Cr.
Pledged percentage
0.00 %
Net CF
₹ 1.09 Cr.
Price to Cash Flow
36.1
Free Cash Flow
₹ 969 Cr.
Debt to equity
0.03
OPM last year
13.1 %
OPM 5Year
12.1 %
Reserves
₹ 6,481 Cr.
Price to book value
7.76
Int Coverage
29.6
PEG Ratio
1.40
POLYCAB INDIA LTD. : Ready for BreakoutStock on Daily TF made tringle Pattern which is ready for upside breakout. Stock on Daily TF consolidate from last 7 days. today stock break the trendline with high volume but closed under trendline. Breakout can possible tomorrow , if stock closed on above2826 level then next upside move can see at 2855, 2914 levels.
Entry : CMP
SL : 2780
Upside Move : 2855, 2914
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.