Olectra Greentech chart pattern is repeating itself 3rd time, so far it has almost completed the consolidation exactly the same way it did last 2 times after making new LTHs, shown by pole arrows with numbers. This is very much similar to P&F pattern so after consolidation is over the pole length is becoming the target from the point the flag trendline is broken.
Half of the work means consolidation is almost seems completed and trendline is about to be crossed. After that it must start the run to achieve the target of 3000 in few days.
Fundamentally it is a leader in EB bus segment and also started R&D work in Hydrogen bus segment partnering with Reliance. They are trying to increase their production capacity and if it gets done by the coming 3 quarters as per plan then for sure 3000 is a justifiable target.
* It is not a trade advise but technical analysis shared based on my understanding of patterns and personal experiences, please take any trade at your own risk.
Half of the work means consolidation is almost seems completed and trendline is about to be crossed. After that it must start the run to achieve the target of 3000 in few days.
Fundamentally it is a leader in EB bus segment and also started R&D work in Hydrogen bus segment partnering with Reliance. They are trying to increase their production capacity and if it gets done by the coming 3 quarters as per plan then for sure 3000 is a justifiable target.
* It is not a trade advise but technical analysis shared based on my understanding of patterns and personal experiences, please take any trade at your own risk.