Polycab Stock Analysis: Breakout Opportunity

11 Jul 2023

Polycab India (POLYCAB)

Analysis: Polycab has given a very good breakout of the price today, and there is a very good opportunity for a long position.
Key levels: The support level is at 3,600, and the resistance level is at 3,800.
Technical indicators: The MACD is crossing above the signal line, and the RSI is in the overbought territory.
Risk: The risk is that the price could pull back to the support level at 3,600.
Conclusion: I am bullish on Polycab and believe that the price could reach 3,800 in the near term.

Here are some additional thoughts on Polycab:

• The company has a strong financial position and is growing its revenue and profits.
  
• The company is well-positioned to benefit from the growing demand for electrical cables and wires in India.
  
• The stock is trading at a reasonable valuation.
  

Overall, I believe that Polycab is a good investment for investors who are looking for exposure to the electrical cables and wires industry in India.