Polycab India: Steady Uptrend Near All-Time High ⚡

Technical View:

has maintained its strong uptrend, gaining 1.3% to close at ₹7,730. The stock continues to trade above its 20-day EMA, signaling sustained strength. RSI near 69 reflects bullish momentum but not yet in the overbought zone. Immediate support is placed around ₹7,450, while resistance is seen near ₹7,850–₹7,900 — a breakout above this could open the next leg toward ₹8,200+. Price Action Note: After consolidating for a few sessions, Polycab has resumed its upward trajectory with healthy volume. The higher-low structure on the daily chart confirms continued accumulation, and the stock remains one of the top performers within the electrical and cable manufacturing space. Fundamental Snapshot: Polycab India remains fundamentally strong, driven by robust domestic demand in cables & wires, improved product mix, and consistent expansion into FMEG (Fans, Lighting, Switches). The company’s focus on export markets and margin improvement initiatives continue to enhance long-term earnings visibility. Outlook: Bias remains firmly bullish as long as ₹7,450 holds. A sustained move above ₹7,900 could push the stock into a fresh all-time high zone. Traders can look for positional gains toward ₹8,200–₹8,400, with a trailing stop-loss near ₹7,450.