Olectra Greentech making semi triangle pattern Buy level above on 1882 level
Olectra has finally given a good up move with volume after decent correction and consolidation. The chart suggests this could be a double bottom breakout as well and today's strong closing could add to that point. It has taken out an important resistance of 1280 with RSI comfortably above 60. I expect it to touch levels near its last ATH, which is 1465, however...
285% rally in 141 days is good enough rally to attract retail traders. Stay away and thank me later. As per ABC corrective pattern, Olectra already achieved its target. I am not expecting any upside in short term. 50% correction coming which can push the price lower towards 700 odd levels Once peaked at PE of 370, now available at a PE of 172. Even the forward...
NSE:OLECTRA small cap e-bus stock is forming triangle pattern. EV related stocks with strong financials are good to average at every dips and wait for good up move on a relevant news. Key note : Always follow proper risk management to avoid losing capital from false breakouts as this is common. Caution : This is a knowledge sharing analysis, not a call. ...
Based on news from Olectra -- Received contract for 1100 Busses for 2400 + 10-year maintenance project. Keep an eye on this - and trade carefully. Please do your own research.