POLYCAB LTD -- CONSOLIDATING WILL IT BREAKOUT ?

2024年9月29日

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.