Polycab gave sharp fall from 5700 odd levels to 3800 due to some news but then we saw consolidation at lower levels and again getting ready for big upside targets.
Buy on dips, 4280 - 4230 is first support zone and then 4050 - 4000. Accumulate for expected target of 5000, 5400 and above.
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Polycab coming towards it's support zone @ 2735 - 2700 and expecting a bounce towards 2980 - 3000 levels.
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InvestPro India Team
NSE:POLYCAB is on his Support zone. On 1 hr time frame there is one resistance line. Buy if Crosses this resistance broken. First Target 2730. after break out
📈 PolyCab 📉
My Findings :-
1. Breakout from a Consolidation Zone of Six Months.
2. Higher High and Higher Low formation.
Bias- Long
Target- 2950 and 3200
SL- 2538
RR- 1: 2.5
All Important Supports and Resistances are drawn in chart.
All levels are of Spot and on closing basis.
Disclaimer : Consult Your Financial Advisor Before Taking Any Decision On This Analysis.
Hello, polycab mid-term swing trade buy: 2,440 targets: 2,620/2,770 stoploss: 2,360.
LOGIC BEHIND TRADE: Stock has formed W pattern on 1D chart & given breakout of resistance (breakout buying) (targets identified from harmonic xabcd pattern level 1.131/1.618) stoploss is taken low of resistance candle. Above 2,620 stock can go upto all time high. NSE:POLYCAB
