Hello Sir,
Its been great learning from your simple, uncomplicated observations the past few months.
Could you pls post your observations on the Polycab chart please?
My understanding:
It had a failed breakout above 3000 in the month of December.
Since the Q3 results, it has had a strong run up again, and is hovering around its ATH.
From my understanding, it is consolidating in an uptrend trending box structure, after an impressive couple of years in stage 2, and any breakout above this range needs to be watched out for. It has generally taken support at the 40 week EMA trendline.
Your inputs on this will be useful for my understanding. Please also correct my observations, in case they are wrong.
Thanks.
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