polycab - short for 20 %expensive valuation
on weekly charts, the price is facing resistance at 7300 for 6 months
MACD shows negative divergence with window of oppurtunity
target and SL marked
POLYCAB trade ideas
VIEW ON POLYCABGood chart structure
After crossing 7600 levels, more up side is possible
Target 8000
Stop loss 7350
I am just representing my views
For educational purposes only.
POLYCAB PROBABLE BREAKOUTPOLYCAB has given a breakout today from a long consolidation and is currently trading at 7,541. The stock is fundamentally strong and has even given a breakout on the weekly TF. There is also a hidden Support-Cum-Resistance Level marked on the chart with a dotted line.
So far, the stock looks good for a Long-Position and can expect to see targets of 8000 in the coming few weeks.
POLYCABPOLYCAB
Can be bought if it breaks the zone above 7450
Has support around the levels of 6800-6900
and can be bought for the targets of 8000 and above
Waiting for the downside moveThis is the Updation of previous post. This is for educational purposes only.
Reversal confirmation in polycabToday, price is completely reversed from the resistance level. So we can expect downside for next one week. This is for educational purposes only.
VIEW ON POLYCABGood chart structure
Stock is closing above 6900 since last 2 days which is a good resistance
Target 7325/7550
Stop loss 6915
I am just representing my views
For educational purpose only.
POLYCAB#POLYCAB
Recent Bullish Move: Polycab India stock gained around 3.88%, showing strong upward momentum.
Key Resistance: Approaching the 7,000 level, which may act as a significant resistance.
Volume Surge: Recent price increase accompanied by higher-than-average trading volume, indicating strong buying interest.
Short-Term Buy Range: Ideal entry could be around 6,800 to 6,900 if the stock consolidates or pulls back slightly.
Short-Term Target: Possible target range of 7,200-7,300 for quick profits.
Stop-Loss Recommendation: Set a stop-loss near 6,600 to limit downside risk. Trend Outlook: Likely to go up if it breaks 7,000; cautious approach recommended if it drops below 6,800.
ABB INDIA#ABB
TIME FRAME:-- DAY
Looking Good above__________ 7450
Keep SL-------7200
Target--------7800 8000
POLYCAB INDIA#POLYCAB
stock is taking support and trying to go upside
support 6500
weak below 6380 level
upside targets 6650-6725 level
keep eye on it
Polycab - Positional SetupCMP 6420 on 04.11.24
All important levels are mentioned on the charts. A long parallel channel has been acting as a support level in the last weeks. If Sustains above 6300 levels, it may go to 6850/7000.
This is only for learning and sharing purposes, not buying or selling advice in any form.
All the best.
POLYCAB: Swing: 1D 15-Oct'24POLYCAB: Swing: 1D 15-Oct'24
Stock has been in an uptrend since long
Starting 25-Jun'24 the uptrend has paused and the stock has been trading in a range until about 19-Sep'24. ADX is ~ 14 on 19-Sep'24 confirming range bound trade
Starting 23-Sep'24 the stock has again resumed its uptrend. It broke above its range levels on 27-Sep'24
It broke above its life time high on 09-Oct'24 and has been consolidating just above that since.
The stock is taking support at 9 day SMA and is trading just above it.
Entry / Target / Exit
Entering long @ 14-Oct'24 close 7483.4
Exit criteria = Hits StopLoss || Reaches Target || Price goes below 9 EMA
Target = Drawdown + All time high ~ 8230
Stop Loss = 1 ATR (190.44) below the resistance (7331.45) = 7331.45 - 190.44 ~ 7139
Risk:Reward = 2.17:1
education purpose only - PolycabRounding bottom pattern
BO & retesting a major base
lets see if stock is bounce back from here...
Important levels are marked
Lets see how hypothesis play.
Polycab - BreakoutPolycab - Breakout
Disclaimer: This is for informational purposes only and does not constitute financial advice. Always do your own research and consult with a financial advisor before making any investment decisions.
POLYCAB - Consolidation -Breakout -DailyThe chart for Polycab India Ltd. (POLYCAB) from October 2, 2024, reflects a strong breakout above resistance levels with significant momentum. Here's a breakdown of key observations:
Resistance Breakout: The stock has decisively broken above the resistance level around ₹6,905 with a strong bullish candle, closing at ₹7,326.55, marking a 5.34% gain for the day. The stock was previously consolidating within a range, but the breakout is accompanied by increased volume, which strengthens the move.
Potential Target: Based on the breakout, the stock could test higher levels, potentially reaching around ₹7,672 (upper green resistance zone), indicated by previous high zones or Fibonacci extensions.
Volume and Momentum: The volume bars indicate strong buying interest, confirming the breakout. The RSI (Relative Strength Index) shown at the bottom also supports bullish momentum as it is nearing the overbought zone, signaling strong upward momentum but also a potential caution for profit booking in the near term.
Support Levels: The immediate support is around ₹6,902. If the stock faces a pullback, this level might act as a key support zone. Below that, ₹6,146 would be the next significant support level.
The chart shows strong bullish sentiment, and the momentum might push the stock higher unless profit-booking or external market factors interfere.
Polycab Momentum trade.Momentum Trade setup
Charts looks good 👍
Falling trend line breakout.
Uptrend line support.
Rectangle formation breakout.
Support at 6550.
Target 🎯 at 6900
POLYCAB ASCENDING TRIANGLE BREAKOUTPolycab breaking ascending triangle pattern
weekly basis after taking support of 20 ema
good volume macd crossover immenent
#target 7800 after 7500 only
EDUCATIONAL IDEA
Polycab India Short Term TradeLevel around 6886 has been a strong resistance since three months,
During this period the stock has also exhibited higher lows (purple trendline in chart)
In the last week the volume has steadily risen, preparing for breakout, and now breakout has occured, ATR also rose on breakout, as a confirmation
The yellow horizontal lines show immediate resistance and support
Thus, for a short term trade,
tgt 7294.5, sl 6851
POLYCAB: Connection Profit KaPolycab is ready to move ahead and continue the momentum it has.
India is growing as a consumption market; the most basic consumption is home buying and home decoration.
Cables and wires are essential and aggressive industries.
So as per momentum right now Polycab is priced at 7050 target would be of 7700-7900
with SL of 6750.
It does not constitute and cannot replace investment advice. We therefore recommend that you contact your personal financial advisor before carrying out specific transactions and investments.
POLYCAB LTD -- CONSOLIDATING WILL IT BREAKOUT ?Polycab India Ltd. is an interesting chart with following
1. RSI on all time frames (DWM) above 60
2. Narrowing Bollinger Bands on Weekly chart
3. Price breakout from 4 month long price consolidation in a range on daily chart.. Breakout with volume
4. ABCD pattern under formation on weekly chart
5. Major Price support 20 day SMA/ 20 Week SMA at 6705 to 6710 levels and 50 DMA at 6666 levels.
FUNDAMENTALS
Company is almost debt free.
Company has delivered good profit growth of 28.1% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 24.0%
lets see How it evolves.
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to take some position with my own Risk Reward matrix.
Portfolio stockThis chart of Polycab India Ltd shows significant technical activity. Here’s a detailed breakdown of the chart analysis using various elements and emojis:
1. Price Action:
The stock experienced a gap down 📉 in July, where the price dropped significantly, likely due to negative news or market conditions.
After the gap down, the price started to consolidate in a sideways range 📊 with lower highs and higher lows, forming a symmetrical triangle pattern 🔺 over the last few months.
2. Trendline and Support:
A clear ascending trendline ⬆️ has been drawn, indicating higher lows. This shows consistent buying pressure at the lows, which suggests accumulation at these levels.
The stock found support 🔵 around the 6,600-6,700 INR zone multiple times, as indicated by the blue arrows on the chart.
3. Resistance and Breakout:
The stock had trouble breaking through the 6,900-7,000 INR resistance level 🔴 for a few months, as shown by the repeated downward arrows.
However, it has now broken out 🚀 with a strong bullish candle (green candle) above this key resistance level, closing at 7,054.80 INR. This is a breakout 📈 above the consolidation zone and signals potential further upside.
4. Volume:
The breakout is accompanied by high volume 📊 (1.291M), which confirms that the breakout is likely strong and backed by institutional or heavy buying.
5. Previous Gap:
The gap down from July has now been completely filled 🟢, as the price has moved back into the previous range, suggesting that the market has absorbed whatever negative factors caused the gap.
Conclusion:
The stock has successfully broken out of the symmetrical triangle pattern 🔺, filling the gap down from July 📉, and is showing strong bullish momentum 🚀. The volume also supports the breakout, and the next resistance levels to watch would be around 7,200 INR and beyond.
No recommend for buy or sell 😕
