Long

Polycab consolidating at breakout area

Updated

Polycab is consolidating at breakout area
buy above 2550.

On 15 mins chart, last couple of days, stock is above 2550. we can see positive movement.

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Happy to see breakout level act as resistance.. that proves, when it breaks it will be good breakout

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Momentum resistance acted very well. lets wait for breakout

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Looks like stock is stuck at breakout level.
Cup is formed, let see when handle is formed with 2800 as target.

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another example why breakout play an important role. we will wait for breakout level

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made position in Polycab at 2470 post breakout. let see, this stock will give 5% return

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Still holding.
another observation is stock is making higher high ... that gives me confidence..
I will book profit at 5%

Please do comments and confirm - are you taking taking trade of shared graphs.

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still holding an waiting for 5% return. not expecting mush return as even brokerage report expect return in range of 2800-3000

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still holding , will book profit a I need cash to build new positions

RoC_Momentum

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