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 trade ideas
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 😕
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.
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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.
