Polycab is a great stock with a good fundamentals.
i have drawn the major trends supporting from its IPO time and from corona's crash.
from past 14-15 months the stock is following the same channel, and has given about no returns.
since it has a good fundamentals and the sales are growing nicely, i see a good upside movement.
but on the flip side, this channel is acting like a consolidation part after the movement given after 2020 crash.
this also says the strength of the stock, which is preventing the stock to fall.
after 20th June, it has kept on rising, and recently it gave a pullback. but its a good stock to now buy, since it is landed on a good trend line, and will now rise further on.
in the couple of months, i see a good upside movement on this stock.
the large blue line which i have drawn is just a speculating line, if possibly the stock gets a good movement, it could go on further rising to that line.
i have drawn the major trends supporting from its IPO time and from corona's crash.
from past 14-15 months the stock is following the same channel, and has given about no returns.
since it has a good fundamentals and the sales are growing nicely, i see a good upside movement.
but on the flip side, this channel is acting like a consolidation part after the movement given after 2020 crash.
this also says the strength of the stock, which is preventing the stock to fall.
after 20th June, it has kept on rising, and recently it gave a pullback. but its a good stock to now buy, since it is landed on a good trend line, and will now rise further on.
in the couple of months, i see a good upside movement on this stock.
the large blue line which i have drawn is just a speculating line, if possibly the stock gets a good movement, it could go on further rising to that line.