Polycab gave big gap-down due to some news and formed a bearish pattern. Sell around 4450 for the downside targets of 4050, 3820 and 3565 until 4655 is intact on the upside.
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InvestPro India
Short Polycab once sustain below 4590 for the marked targets on the chart until 4740 is intact on the upside.
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InvestPro India Team
Polycab coming towards it's support zone @ 2735 - 2700 and expecting a bounce towards 2980 - 3000 levels.
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InvestPro India Team
📈 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
