Take Polycab India for short term upside Take entry at cmp 5234
Target 5471
Strong SL 5135
Very Good Q3 result...Be invested.
POLYCAB trade ideas
Polycab consolidationIf you look at Quarterly chart, We could see a pattern that after an year consolidation, 100% rise has happened. Could we expect Dec '23 - Dec '24 as consolidation period. Historically, 1st quarter of polycab hasn't performed except last year which was a surprise. Let's see what happens this year. Higher low hasn't formed yet in weekly chart.
Potential Breakout: Polycab Indicates Upside Momentum Above 5780Details:
Asset: Polycab India Limited (POLYCAB)
Breakout Level: Sustaining above 5780
Potential Target: Upside momentum expected
Stop Loss: Below breakout level or as per risk tolerance
Timeframe: Short to medium-term
Rationale: Polycab India Limited (POLYCAB) is showing signs of a potential breakout above the 5780 level. Sustaining above this level could indicate a bullish sentiment shift and pave the way for significant upside momentum. If the breakout is confirmed and sustained, POLYCAB may experience a substantial upmove.
Market Analysis:
Technical Breakout: A sustained move above 5780 would suggest a technical breakout, attracting buying interest and potentially driving the price higher.
Market Sentiment: Positive market sentiment or company-specific factors may be contributing to the anticipated breakout in POLYCAB.
Price Target:
The potential upside target for POLYCAB is not specified but is expected to be significant if the breakout sustains.
Risk Management:
Implementing a stop loss strategy below the breakout level is essential to manage risk in case of unexpected price reversals.
Timeframe:
The projected upside move for POLYCAB is based on a short to medium-term outlook, but actual timing may vary based on market dynamics.
Risk-Reward Ratio: Consider individual risk tolerance and adjust position size accordingly to maintain a favorable risk-reward ratio.
As always, conduct thorough analysis and consider factors such as market trends, company fundamentals, and risk management strategies before making trading decisions.
Use this rally to exit!!Polycab- CMP -5267
Elliott- The first sharp fall in this counter is just one leg of the corrective pattern called zig-zag. The B leg which is with the trend is offering u an opportunity right on the highs to exit. The C leg will now being and this will come down minimum to 3480. In my view 2300 is a high probability. The short term charts are also set for a fall.
Conclusion- book ur profits here coz a deep fall in this counter is about to begin.
policab bearish flag raising wedgepolicab done a great gap filling work
and formed a raising wedge pattern in daily chart.
the stock may fall in upcoming days.
This analysis is for learning purpose only.
It is just a view, please trade at your own risk. I'm not SEBI registered adviser.
Support to resistance in polycab20 week ma also acting as resistance.
Clear sell signal in polycab
For people holding this is exit opportunity.
Polycab wave X completedThe stock completed corrective move of a correction wave X, now I think its going to resume its fall towards 2500 as wave Y. Let's see how it unfolds. This is only for study purpose, not suggesting to trade or invest.
POLYCAB | BUY ON DIPS FOR BIG UPSIDEPolycab gave sharp fall from 5700 odd levels to 3800 due to some news but then we saw consolidation at lower levels and again getting ready for big upside targets.
Buy on dips, 4280 - 4230 is first support zone and then 4050 - 4000. Accumulate for expected target of 5000, 5400 and above.
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InvestPro India
POLYCAB LOOKS WEAK | LOOKING GOOD FOR 4050 - 3565Polycab 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
Polycab Gap likely to be filledNSE:POLYCAB looks good at these levels. It is a good candidate to fill the gap that it created due to the Income Tax Raid news. If it attempts to fill the gap, I do expect it to reach its previous highs.
#Polycab cash : Looks good around 4460-4510#Polycab cash -Positional call
15.Feb 2024
Looks good around 4460-4510
Stoploss 4300
Target 4760-4800/5200
Cmp 4624
the downtrend should resumeCandlestick - the big red candle is a bear candle and an early indication of a change in trend,
Fib- the stock cannot rally beyond 38.2% of the bear candle is very bearish.
RSI- the oscillator is forming a double top below the bull support of 40. This is very bearish.
MA- the stock has halted at the longest MA in red. But the rallies post that doesn't show strength, Hence it is likely to break.
Conclusion- The bear candle has huge volume an early indication that the fall is not done. Exit this counter, it is still on the highs.
PolyCabis looking to break the stack #SuperChartzKey Levels:
Support: 4250
Resistance: 4530
More details will be updated soon...
Polycab bigger movePolycab has formed big range on daily candle. Whenever stock breaks and sustains above or below the levels, stock is expected to follow that direction and give a bigger move. As of now stock within the range, hence neutral view.
POLYCABPolycab can reach all time high. But now we focus on short time swing. 4500 will be Strong support. First target is 4870. Must wait for 4500 breakout.
Education purpose only - polyIf a strong stock due to some reason falls and take support at Monthly 20 and spend some time there then generally give strong bounce
So if stock spend time there
entry > 4040
SL 3600
T1 4500
Exit rally in this counterFib - The stock halted today at fib confluence at 3800. That the circuit did not sustain for the entire day means we can see this zone holding.
Candlestick- Thats definitely a bear candle and an early indication of a change in trend.
Volume- stock falling with volume is negative.
RSI- break of the bull support at 40 is negative.
Extreme indication - this has gone deep down indicating a halt .
Conclusion- a rally looks likely if this zone is held. But all the other indicators are telling me that one should exit this counter on the rally. I think till results we will witness some rally.
POLYCABS
Simple ORB STRATEGY WITH VOLUME I'm expecting above blue line close D chart will lead to 10% target 1
Sl 5% or previous swing low
3 to 6 months OR FAST NEAR THE TARGET (FOR MTF TRADE VIEW )
Just a view educational purpose only trade at your risk management
POLYCAB - Weekly Channel pattern - Read description carefullyPOLYCAB - Although the company has corporate governance issues, there could be good swing trading opportunities in the stock.
My thoughts (not a trading recommendation): 2 scenarios -
I'd go long if the stock takes support at the channel bottom with good price action & reversal candlesticks. My stop loss will be if the channel breaks.
I'd go short if the channel breaks with good volumes and my stop loss will be if the stock comes back into the channel.
BUY POLYCAB My focus is on buying POLYCAB. Last couple of days have seen polycab's price drop and hit a strong weekly demand zone, which is good.
Polycab India LtdPolycab India Ltd, big news based fall, but not fully proven .. technical supports are on chart for short term or risk takers...........
