LearnersParadise

Polycab:- Ascending Triangle Breakout

Long
NSE:POLYCAB   POLYCAB INDIA LTD
A fundamental pick by a person who I admire, who made me look at various directions, who taught me a lot and who is helping me to be a better trader.
Finally my technical is matching and now I know his insight.
Let's understand now what is happening.
This stock broke resistance of 1000 (a psychological one) along with horizontal resistance which it has also retested it again and again.
On the bottom it is riding a trendline which is pushing it at higher levels again and again.(Marked with triangles.)
And finally the volumes which was being generated before breakout was also huge. so someone must be buying.

I have placed 3 targets on the chart. People can go according to their apatite .
Always remember higher the target we go longer the time it will take. So don't expect a move of 40% in next 2-3-4 days or in a week.

Cheers and Happy Trading.

Disclaimer:- I am not SEBI registered. All the levels plotted are only for educational purposes. Trade with your own risk and caution.

Comments

Positional view right .
it will go till 1200 as per me .
Good to hold for more!?
Reply
TryingToWin07 TryingToWin07
What's the target your looking. Is it which is already mentioned !!
Reply
LearnersParadise TryingToWin07
@TryingToWin07, I mentioned 3 targets on chart. Target 1 is shortest and target 3 is longest. And the longest one might take 6 months too.
Reply
LearnersParadise TryingToWin07
@TryingToWin07, I already mentioned it all depends how long you wanna hold.
Reply
If you talking about same person i know.......you both are a excellent traders
Reply
@Money_Monk, give me a hint whom you know ☺️
Reply
azindian Money_Monk
i can give name of that person...
Reply
@azindian, 🧐
Reply
Money_Monk Money_Monk
@LearnersParadise Sailor 🛳️???
Reply
@Money_Monk, oooooooo yeah
Reply
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