Polycab (Daily) - Reaches New ATH with Decisive Breakout

Polycab has demonstrated exceptional strength, achieving a new All-Time High (ATH) today. The stock decisively broke out of a significant long-term horizontal resistance level, a move that was confirmed by a healthy surge in trading volume.

This breakout is the latest milestone in a powerful rally that began from a Double-Bottom pattern in April 2025. Since that point, the stock has surged over 65% to date.

Broad-Based Bullish Confirmation 👍
The bullish momentum is confirmed across multiple indicators and timeframes:

- Sustained Volume: Trading volume has remained consistently around the average in the recent past, indicating steady accumulation and persistent buyer interest.

- Daily Momentum: On the daily chart, both the short-term Exponential Moving Averages (EMAs) and the Relative Strength Index (RSI) are in a strong bullish crossover state.

- Weekly Strength: This positive sentiment is echoed on the weekly timeframe, where the EMAs and RSI also confirm a powerful bullish momentum, suggesting strength on a larger scale.

Outlook: Monitoring for Confirmation
Overall, Polycab is in a clear and powerful bullish trend. A common post-breakout behavior could involve the stock retesting the previous resistance level as new support.

The price action in the coming days will be crucial to watch. A successful retest would confirm the breakout's strength and suggest a continuation of the upward trend. Therefore, observing this near-term price action is vital before making any further decisions.