Polycab’s MACD edges positive near ₹8,000 support

Polycab India Limited is showing an early improvement in momentum after its decline towards ₹8,000. MACD has edged above its signal line, while the latest daily candle has recovered from ₹8,062 to ₹8,147, leaving a lower shadow that shows buying below the opening price. The candle has a relatively small body, so it signals a tentative response rather than forceful buying. Its location near the recent lows makes follow-through important. Holding the ₹7,900–₹8,000 region and producing stronger closes would support a recovery attempt. MACD provides the more encouraging detail. The line at −196.81 is marginally above the signal at −200.34, producing a positive histogram of 3.53. This suggests that downward momentum is easing. Both lines remain below zero, however, and their narrow separation means the crossover still needs to strengthen. The moving averages identify the price hurdles. The 20-day average at ₹8,259.10 continues to fall below the declining 55-day average at ₹8,785.21. There is no clear sideways turn yet. A close above ₹8,260 would be the first improvement, followed by a break through September’s ₹8,400–₹8,500 consolidation. Polycab’s wires and cables business is linked to construction, electrification and industrial spending. Copper and aluminium prices can influence reported revenue, making sales volumes and margins useful checks on the underlying demand picture. The setup favours watching for a support-led rebound, with MACD offering an early clue. A sustained move above ₹8,500 would strengthen the recovery towards the 55-day average. Losing ₹7,900 would undermine the stabilisation attempt and bring the earlier ₹7,700–₹7,800 region into consideration.