POLYCAB trade ideas
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 😕
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 😕
POLYCAB - Consolidation Breakout - Daily Polycab India Ltd., and it shows a breakout from a sideways consolidation range between ₹6,146 and ₹6,905. The current price is ₹7,054.80, reflecting a strong move upward with a significant increase of +4.56%.
Key Insights:
Breakout Confirmation: The stock has broken out from its consolidation range between ₹6,146 and ₹6,905, showing bullish momentum.
Volume Spike: The breakout is supported by a surge in volume, signaling a higher probability of continuation in the current uptrend.
Target Levels:
Based on the previous range and measured move from this breakout, the immediate target is around ₹7,671.95, which is approximately 11% from the current price.
A potential intermediate target was at ₹7,331.45, which seems to be reached as per the chart's high at ₹7,054.
Support Levels:
The previous strong support at ₹6,146 now acts as a solid base, and the price action above this level suggests limited downside risk in the short term.
Conclusion:
The chart signals bullish potential for Polycab India Ltd. with upward targets around ₹7,331.45 and ₹7,671.95, while the breakout and volume spike suggest strong momentum continuation.
POLYCAB Stock has given strong breakout
#POLYCAB
Stock has given strong breakout in daily and weekly TF breaking the
resistance. Strong reversal candle in monthly TF.
Can do good in coming days.
Disclaimer:-All views are my personal and only for educational purpose.
#StockMarketindia
#LetsLearnTogether
POLYCAB breakout in progress!!!Polycab looks ripe to be getting a retest upon nearly 7,000. if it take retest in well accored of technical analysis it may be termed as "BUY" with target of 7400 in shorter term. views on this stock should be taken after viewing macro variables of Indian equity markets
polycab - short for 10 %on weekly chart price forming a bearish engulfing bar
12-26 MACD shows negative breakdown
target and SL marked
Inv H&S in polycab Since from many days polycab trading in range bound formed inverted head &shoulder in 1hr time frame.
Polycab & Concor | Post Your Findings in Comments ⭕ Price Action Structure similarity !!!⭕
======================================================
Technical Reasons to trade or Strategy applied :-
Polycab & Concor both show cast same structure
2 times V shaped recovery
Range bond Market
Bear Bo ( breakout ) give Pretty good momentum
Takes out 2nd V shaped Low as stop-loss Hunting
POST Your Findings in comment section any other stocks with some pattern you observed we can discuss as a community there !!! Happy To Learn here in TRADINGVIEW with charts
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polycab--bullishAll the information given in the chart is for the educational purpose only.
~Do your own research before investing.
~This is not my recommendation.
~My recommendation--LEARN MORE EARN MORE.
Keep An Eye - Gap Fill - POLYCAB📊 Script: POLYCAB
📊 Sector: Cables
📊 Industry: Cables - Power
Key highlights: 💡⚡
📈 Keep an Eye on Stock There was a gap down on 28th June we may see Gap Fill.
GAP RANGE - 6777 TO 6990
⚠️ Important: Always maintain your Risk & Reward Ratio.
✅Like and follow to never miss a new idea!✅
Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
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Happy learning with trading. Cheers!🥂
POLYCAB - Ready for UptrendA beautiful Gap-Down has been created in the chart signifying a possibility for the market to move in an upward direction soon by the end of this week.
We can be bullish on it and hold on to our first target of about 9400-9457.
I am not SEBI Registered. Do your analysis before investing your hard-earned money.
My idea is to go long on this share.
This stock can go upto 30%!!!Yes, As per my technical analysis If any stock which trade over RSI 65. it will go up by 30%.
Same situation happens in Pollycab.
Polycab gives breakout with RSI in last month. also it generates the cup pattern.
So the target will be 6818 and 7264.
POLYCAB for 10KPolycab after all negative news, and good doji at weekly time frame. All set for 10K isn't so?
Polycab 8000 longKeep an eye on polycab above Fridays high for 8000 targets.
Flag pattern breakout.Shortcovering may come.
POLYCAB BREA-KING OUT The stock had a reistance at 5732 which is successfully breached today moreover it can be followed by a short rally however on the long run the stock can deliver upto 45% returns and reach till the 7000 mark
Polycab short termThis is educational purpose only, consisting of Stock market views based on price action,
Elliott Wave & Fibonacci. Views expressed here are not for investors/traders.
Do your own due diligence before investing/trading.
New Count PloyCabThis is educational purpose only, consisting of Stock market views based on price action,
Elliott Wave & Fibonacci. Views expressed here are not for investors/traders.
Do your own due diligence before investing/trading.
Polycab1.Moving averages
- 21 Ema above 50
-50 Ema above 200
-Gap between Ema seems better
2.uptrend continues observed
3.Good pivot levels
POLYCABThis is educational purpose only, consisting of Stock market views based on price action,
Elliott Wave & Fibonacci. Views expressed here are not for investors/traders.
Do your own due diligence before investing/trading.
Short Term Trading Opportunity in Polycab India for > 10% UpsideHi,
NSE:POLYCAB has given a Bullish Flag Breakout on Daily charts with very good volume.
MACD is also on the bullish side on daily, weekly and Monthly time frames. RSI is also on the bullish side on daily and weekly time frames.
In the current market scenario, I am expecting that the bullish momentum will continue.
Complete price projection like entry, stop loss on Daily Closing basis and targets mentioned on the charts for educational purpose.
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Disclaimer: Please consult your financial advisor before making any investment decision.
Polycab buy given at 3995 for long term next Target 7000, 7450 Disclaimer -
This information is only for educational purposes, this is not for any buy or sell recommendations .
On Our Harmonic pattern indicator
based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
