OLECTRA is in uptrend and currently facing some resistance and some sideways expected. Any dip in the coming days will be an opportunity to fill your average your portfolio. Olectra will make a fresh high soon .
NOTE : I'm not a SEBI REG . Study before investing .
If 1644 sustains in weekly then 📈 2800 possible within or on 27th May 2024
Disclaimer:
Its a personal view not a financial advise and I assume no responsibility and liability whatever outcome arises.
Olectra may retest previous breakout levels because Rsi losing strength and given breakdown.
Retest levels Rs1800-Rs1700, further breakdown could take it to Rs1450 levels.
SL previous high of Rs2222 closing basis.
Disclaimer : Above scenario just for educational purpose and study of graphical movements as per available technical parameters derived by...
# BO of Flag & Pole Structure in Weekly TF
# Volumes increasing after consolidation
# Confirmation of BO by rising volumes
# Target 1 - 1915 , Target 2 - 2300
This is for educational purpose. Do your own analysis before investing.
OLECTRA is in a small range and currently moving for a POLE & FLAG pattern. Expect another rally in coming months.
NOTE: I'm not a SEBI REG. Study before you make investment.
#OLECTRA trading above Resistance of 1501
Next Resistance is at 2108
Support is at 1051
Here are previous charts:
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and...
📊 DETAILS
Sector: Electronics - Components
Mkt Cap: 10,472 cr
Olectra Greentech Limited was incorporated in 1992. The Company is primarily engaged in the manufacturing of composite polymer insulators and electrical buses. Its registered office is in Hyderabad.
TTM PE : 133.32 (Average PE)
Sector PE : 59.26
Beta : 0.52
📚 INSIGHTS
Strong...
Last time this patterns occurred, it gave me good returns. Will it repeat again, or will it take away some of my previous profits...only time will tell.
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“Humans are pattern-seeking story-telling animals, and we are quite adept at telling stories about patterns, whether they exist or not.”
― Michael Shermer
Olectra formed cup and handle on hourly and retracing near the C&P line ~1800.
Taking support from 1800 it can give target up to 2050
1750 is stop loss for this trade.
-Ascending triangle breakout with high volume shows strength in breakout and confidence in traders
-before breakout consolidated for long which is good sign for next rally
-above all crucial levels and EMA
-rsi also looking strong
About :-
Olectra Greentech Ltd. is a holding company, which engages in the manufacturing of composite polymer insulators and electrical buses. It operates through the Insulator Division and E-Bus Division segments. The company was founded in 1992 and is headquartered in Hyderabad, India.
Key facts
Market capitalization
139.47 BINR
Dividend yield...
--Breakout with volume confirmation
--Good Retest From The Demand Zone
--Target -1466
--Strong Bullish Momentum
--Overall Trading In HH-HL Formation
--Long Range Consolidation breakout
--Mulktibagger stock
--sugar sector on focus
--bullish flag pattern formation
--strong volume in
--swing Target 33
-- good for long term
Disclaimer:
- The view expressed here is...
NSE:OLECTRA
✅ #OLECTRA trading above Resistance of 1501
✅ Next Resistance is at 2108
Related charts:
Charts are self-explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose...
