#POLYCAB looks good for 30% medium term returns!NSE:POLYCAB
Structure looks quite appealing.
- Break above long term down trendline after bouncing back from 200 EMA and halting.
- Volume has zoomed 6x above average indicating commitment in the breakout success.
- Immediate resistance stands at 930-950 region , above which price may fly on to test the ATH region which will be a decent 30% up move from here.
** Entry can be made immediately or upon retest of the down trendline.
Disclaimer: This is just for educational purpose. Investment/Trading carries its own risk of permanent capital erosion and mental drawdown as well. Do consult your financial advisor before getting into any positions.
P.S - Likes will be appreciated as well as your insights in the comment section as well. Thank you.
