Polycab Shares Break Out - SEBI Analyst Calls Fresh Upside After GST 2.0 Gap-Up

Polycab has broken out of a bullish flag pattern, with strong technical signals indicating further upside.

SEBI-registered analyst Aditya Thukral noted that the stock has been in an uptrend, forming higher highs and higher lows, and is consistently trading above both short-term and long-term moving averages across most timeframes.

He pointed out that Polycab has exhibited a fresh breakout from a flag pattern with rising volumes, which is considered a bullish continuation pattern.

He added that the previous breakout, which occurred just before the announcement of GST 2.0, aimed at simplifying tax slabs, is still playing out. The gap-up in prices continues to sustain, reinforcing the positive outlook. 

The current flag breakout, accompanied by a breakout in relative strength index (RSI), provides another strong buying signal, according to him.

For the trading strategy, Thukral suggested buying Polycab at the current levels of ₹7,130–₹7,135 with stop-losses below ₹6,980. 

Expected targets are ₹7,400 and ₹7,700 within the next three to four weeks.

What Is The Retail Mood?

On Stocktwits, retail sentiment for Polycab was 'bullish' amid 'normal' message volume.

Polycab's stock has declined 2.5% so far in 2025.

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