Technical Stock Idea - Buy Polycab India Ltd For Target Rs.2300-2250 Monarch Networth Capital
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Polycab India Ltd
Stock was in up-trend from March 2020 till Sept 2021 and since then went into time and price wise consolidation. Recently stock managed to take support at 50 EMA on weekly chart and since then prices have shown positive development in last couple of weeks. Also, it is evident that prices are moving in higher top higher bottom formation as highlighted with up-ward sloping support line with black color.
Recommendation is to buy at current market price or on dip near 2300 - 2250 level with stop loss at 2090 level and Target at 3250 levels.
Weekly Chart:
Buy :Polycab India Ltd Buy RANGE: 2300-2250 CMP: 2547 SL: 2090 TARGET: 3250 TIMEFRAME: 4-6 MONTHS
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