If the price opens above the current support zone and the candles are stable for at least 1 hour then you can expect the price to move above 253 levels
The below mentioned levels will act critical support and resistance levels.
Best price to buy 232 Where the last swing initiated.
Analysis is only good if NIFTY stays strong.
Target 1 - 258
Target 2 -...
Olectra is near its multi month resistance level of 265. If it breaks out you can take a positional trade for the next 2 target levels of 274 and 304. Else if it dips below 255 then good time to buy will be at 245 and 237 levels.
BASED ON HIGH DELIVERY AND CHART PATTERN OLECTRA LOOKS GOOD FOR LONG ABOVE 221-222
Hope you like the idea and please give suggestions.
Disclaimer: Not a recommendation.
Note:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
3.Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns...
3. Views given here is not a tip rather it is for educational purpose... Aftermarket...
A classic example of Wyckoff Distribution catching retail investors off guard in Olectra Greentech Limited over a couple of years.
It is important to analyze the same chart through different time-frames. New patterns can emerge this way!
Full Text Reference, highly recommended must-read - school.stockcharts.com
PSY—preliminary supply, where large interests...
Morning star followed by a good bullish candle testing the resistance level
Look how beautifully the Fibonacii retracement is followed. Right now near a resistance level. But since a morning star was followed by bullish candle, the chgances are that this resi=stance will be broiken and next resistance will be reached. So buy moderately
RSI is rising up nicely...
