Polycab has demonstrated exceptional strength, achieving a new All-Time High (ATH) today. The stock decisively broke out of a significant long-term horizontal resistance level, a move that was confirmed by a healthy surge in trading volume.
This breakout is the latest milestone in a powerful rally that began from a Double-Bottom pattern in April 2025. Since that point, the stock has surged over 65% to date.
Broad-Based Bullish Confirmation 👍
The bullish momentum is confirmed across multiple indicators and timeframes:
- Sustained Volume: Trading volume has remained consistently around the average in the recent past, indicating steady accumulation and persistent buyer interest.
- Daily Momentum: On the daily chart, both the short-term Exponential Moving Averages (EMAs) and the Relative Strength Index (RSI) are in a strong bullish crossover state.
- Weekly Strength: This positive sentiment is echoed on the weekly timeframe, where the EMAs and RSI also confirm a powerful bullish momentum, suggesting strength on a larger scale.
Outlook: Monitoring for Confirmation
Overall, Polycab is in a clear and powerful bullish trend. A common post-breakout behavior could involve the stock retesting the previous resistance level as new support.
The price action in the coming days will be crucial to watch. A successful retest would confirm the breakout's strength and suggest a continuation of the upward trend. Therefore, observing this near-term price action is vital before making any further decisions.
This breakout is the latest milestone in a powerful rally that began from a Double-Bottom pattern in April 2025. Since that point, the stock has surged over 65% to date.
Broad-Based Bullish Confirmation 👍
The bullish momentum is confirmed across multiple indicators and timeframes:
- Sustained Volume: Trading volume has remained consistently around the average in the recent past, indicating steady accumulation and persistent buyer interest.
- Daily Momentum: On the daily chart, both the short-term Exponential Moving Averages (EMAs) and the Relative Strength Index (RSI) are in a strong bullish crossover state.
- Weekly Strength: This positive sentiment is echoed on the weekly timeframe, where the EMAs and RSI also confirm a powerful bullish momentum, suggesting strength on a larger scale.
Outlook: Monitoring for Confirmation
Overall, Polycab is in a clear and powerful bullish trend. A common post-breakout behavior could involve the stock retesting the previous resistance level as new support.
The price action in the coming days will be crucial to watch. A successful retest would confirm the breakout's strength and suggest a continuation of the upward trend. Therefore, observing this near-term price action is vital before making any further decisions.
Disclaimer: This analysis is my personal view & for educational purposes only. They shall not be construed as trade or investment advice. Before making any financial decision, it is imperative that you consult with a qualified financial professional.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer: This analysis is my personal view & for educational purposes only. They shall not be construed as trade or investment advice. Before making any financial decision, it is imperative that you consult with a qualified financial professional.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.