VamsiKrishnaMogili

POLYCAB BREAK OUT OR BREAK DOWN

NSE:POLYCAB   POLYCAB INDIA LTD
A very simple channel analysis, if the stock break out get into the stock with a target of 1445 and SL at 1310 or if the stock break down get into the stock with target of 1200 and SL at ATH (1390 or 1400).
Get into the stock at your own risk it's was just my view on this stock.

Comments

Greetings ! Couple of observations about the current price movements. (1) RSI on weekly has entered into seemingly overbought zone. Thus, upside may be limited or unsustainable (2) Since 08/02 traded volume has been diminishing. There is greater possibility of stock leading to a correction or forming a rounded top.
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@datepuru, thank you for your comments, lets see where it will take.
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