Polycab India Faces Notable Trend Reversal Amid Broader Market Declines

Jan 21 2025 12:50 PM IST
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Polycab India experienced a decline on January 21, 2025, reversing a three-day gain streak. The stock fell to an intraday low, remaining above its 5-day moving average but below longer-term averages. Over the past month, it has decreased significantly compared to the broader market.
Polycab India, a key player in the cable industry, saw a decline of 3.32% on January 21, 2025, underperforming its sector by 2.32%. This marks a notable trend reversal after three days of gains. The stock hit an intraday low of Rs 6,560, reflecting a drop of 3.59% during the trading session.

In terms of moving averages, Polycab India is currently above its 5-day moving average but below the 20-day, 50-day, 100-day, and 200-day moving averages. Over the past month, the stock has decreased by 8.27%, while the Sensex has seen a smaller decline of 2.13%. Market participants will be closely monitoring Polycab India's performance in the context of broader market trends in the days ahead.
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