1.Warnings: *Not a reco* This is my first set of analysis. 2.Analysis * triangle pattern formed on polycab on 30 mins chart. *upside-1.5-2% if there is sting breakout *2 watch out on 3rd sting breakout
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NSE:POLYCAB Consolidation of over a month and volume activity is seen and BO of penant. One can go long with SL of 910 for target of 1000, CMP 940. Rhis idea is offering good RR.
= Bullish Pennant formation =Retesting with 50% less volume Stop loss : 930 Target: 1118 Purchase 30% Qty at current price and 70% Qty above 976
Bo with Good volume. BG Footprint.
Polycab is currently trading at price point where we have long term and short term supports Trade based on the price action
Polycab looking interesting at this price point for longterm also it has good risk to reward ratio Price is plotted on the chart