Polycab, Astral Poly Technik: How to trade construction-related stocks

Most stocks are witnessing selling pressure at higher levels. If that gets conquered, a fresh upside of 3-5 per cent is expected to happen.

Union Budget 2020-21 put forth an array of proposals that are likely to give a fillip to construction-related stocks such as cables, pipes, among others. Focus on agriculture, "Jal Jeevan Mission" for which the government has approved a budgetary allocation of Rs 11,500 crore and "Affordable Housing" are expected to boost these companies in the coming days. 

Here's a look what technical charts indicate for these stocks and how you should trade them -

Polycab India Ltd (POLYCAB): The counter is witnessing selling pressure above Rs 1,100 levels. Although it witnessed strong closing above the same, hitting a high