NSE POLYCAB has broken out a cup and handles pattern at the weekly timeframe chart. The handle has given 50% Fibonacci retracement of the cup.
The neckline at 2862 has provided resistance to the price until it broke out. Along with the relative strength index, the 20 and 50 moving averages are indicating bullish momentum.
If the price sustains the above swing high at 2862, traders can trade for the following targets: 3032 – 3185 – 3246. The trade will be invalid in case of spring or close below the neckline.
I will update further information for premium subscribers.
Please log in to read the entire text. If you don’t have a login yet, please subscribe now to get access.
Get free important share market ideas on stocks & nifty tips chart setups, analysis for the upcoming session, and more by joining the below link: Stock Tips
Are you looking for NSE paid calls? Want to get premium trading alerts and unlimited access to Moneymunch? Join today and start potentially multiplying your net worth: Premium Stock & Nifty Tips
Premium features: daily updates, full access to the Moneymunch #1 Rank List, Equity Research Reports, Focus List portfolio of 50 longer-term stocks, Premium screens, and much more. You will quickly identify which stocks to buy, which to sell and target today΄s hottest industries.
Have you any questions/feedback about this article? Please leave your queries in the comment box for answers.
Very helpful insights.❤️
Good chart sir.
Good analysis! 👏🏼
Agree with you, thanks for sharing.
excellent. keep it up.
Wonderful chart pattern analysis!!