Technical Analysis Polycab India Ltd.

The stock

has been in a strong long-term uptrend. After a significant drop in early 2025 the stock bounced back aggressively forming a classic healthy pattern of higher highs and higher lows. However looking at the recent price action on the far right of the daily chart the stock hit a fresh peak near the 8600–8800 zone and is now going through a sharp correction. It is currently trading at 7145. Immediate resistance there is a clear horizontal line marked on your chart around 7355. The stock recently broke below this level and it will now act as the first major ceiling the price needs to cross for a bullish revival. Crucial support the next major support zone looks to be between 6800 and 7000. If you look back this area previously acted as a strong consolidation zone and a launchpad for the recent massive rally. The stock is currently in a short-term bearish pullback within a much larger long-term bull market. The momentum is currently leaning downwards due to heavy profit-booking from the recent highs. The chart suggests a wait and watch approach. If the price drops to the 6800–7000 support zone stabilizes and forms a bullish reversal candlestick pattern it could offer a solid risk-to-reward setup. If it breaks heavily below 6800 with high volume the correction could deepen. Short-Term buyers avoid entering the trade right now while the stock is correcting sharply wait for a clear bullish reversal near the 6800–7000 support zone. Current holders the long-term uptrend is still intact so you can continue holding but it is wise to maintain a strict stop-loss below 6800 to protect your capital. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.