POLYCAB:NSEPOLYCAB FUTURES Analysis

Polycab India Limited is trading at 9,640 INR, comfortably above its 20‑day SMA (9,409) and 50‑day SMA (8,534), while still below the 200‑day SMA (7,751) indicating a strong intermediate uptrend. The 14‑day RSI sits at 66.6, suggesting the stock is approaching overbought territory. MACD shows a bearish crossover with the histogram at –37, warning of short‑term downside pressure. Volume has been decreasing, and the average 10‑day volume is far below the current trading volume, hinting at thinning liquidity. The market sentiment is in the “Extreme Greed” zone (fear‑greed index 87.6), reinforcing bullish bias.
Recent earnings released a month ago beat consensus, with Q4 revenue up 27% YoY and FY26 revenue surpassing INR 285 billion, while EBITDA margin expanded to 13.9%, providing a solid fundamentals tailwind. The stock sits near its 52‑week high (9,833) and above the identified support at 8,865, giving a clear upside target but also a potential ceiling. Given the bullish trend, strong earnings momentum, and limited currency or geopolitical exposure, the outlook remains favorable across horizons. However, the elevated RSI and bearish MACD suggest caution on immediate upside moves.