POLYCAB - How simple Indicators can give more than 20% return within a week

indicators polycab price action Sep 08, 2021
POLYCAB, Price Action

Like this Article? Share it with your friends!



Using indicators along with price action techniques gives better confirmation and increases the accuracy of the analysis. We have shown here how we have analyzed POLYCAB stock using price action and indicators.

We published the following research on POLYCAB pre-market on 31st AUGUST 2021 in "The Financial Waves Short Term Updatewhich our subscribers receive pre-market every day.

POLYCAB Daily chart as of 31st AUGUST 2021: (ANTICIPATED)

POLYCAB Daily chart as of 08th SEPTEMBER 2021: (HAPPENED)

POLYCAB has been moving higher recently and intact in a strong uptrend. Yesterday’s trading session had made a new lifetime high near 2503 levels. The stock has given a return of more than 23% within a short span after we covered it in our research report.

On the daily chart, we can see a rounding bottom is formed and price have given close above 2033 which confirm the breakout of this pattern. The 5 EMA has also crossed the 13 EMA which is a bullish crossover and thus indicates that the short-term bias has turned positive. The recent rise also indicates that the last few days of sideways action have been completed and the next leg on the upside has started towards 2100-2120 levels.

Happened: After we published the report, Polycab opened with a gap up and rallied to make a new high near 2503 levels exceeding the target range we mentioned and the stock was up more than 23% within 6 trading sessions.

Subscribe to “The Financial Waves Short Term Update” equity research which covers Nifty, Bank Nifty, Stocks detailed Elliott wave outlook. Get access here

Want to See how to apply Time Cycles on Bank Nifty Chart? Check the discussion on Trader's Forum over here

Mentorship on Timing the Markets for the FIRST TIME EVER starts November 2021 – In this Mentorship program, all the necessary tools are given right from stock selection methods, strategy, follow-up action to derive a complete trade setup in step by step fashion. To know more check here