POLYCAB : Trade Alert - Anticipating Rebound Observing a potential rebound from the bottom of Wave 4 on the hourly candle, POLYCAB shows promise in surpassing its previous swing high.
Trade Details:
Buy Call Initiated at CMP (Current Market Price): $5295
Stop Loss: $5190
Target: $5600
📊 Trade Rationale:
This buy call is based on the anticipation of a rebound, with the potential for POLYCAB to break its previous swing high. The technical analysis suggests a favorable risk-reward ratio.
⚖️ Risk Management:
A strategic stop loss at $5190 has been implemented to manage potential downside risks.
🎯 Target Range:
The target range is set at $5600, aligning with the anticipated upward movement in the stock.
📈 Trade Execution:
Execute the buy call with diligence, monitoring the market closely for any developments.
Happy Trading! 🌐💹
POLYCAB trade ideas
Polycab India Ltd *Polycab India Ltd*
P&F Formation on Monthly Basis.
Flag Priceline BreakOut. Need to Sustain. Then good to go!!!
Strong Vol Consolidation & Continued BuiltUp.
Resistance @ 5494.
RSI: 1H< D< W< M (To be Watched).
*Trail SL with Upside*
*Book Profit as per Risk Appetite*
*_Do Your Own Research as well. This is an Opinion._*
Happy Investing 😇
Head and Shoulder pattern in Polycab on hourly timeframeHead and Shoulder pattern in Polycab on hourly timeframe chart. A breakout is imminent as the overall tone of the market is bullish. A short term swing trade is on.
Targets are: 1. depth of right shoulder, 2. depth of the head.
Stop Loss: close below previous day low (for F&O), low of right shoulder for cash trades.
PS: I am holding a long position.
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 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