OLECTRA Greentech positionalcoiling on weekly
volume decreases during consolidation
Sales increasing QOQ
very less overhead supply
base on base.
rising 40 EMA
waiting for BO with good volume and RS for entry
OLECTRA trade ideas
Olectra Pole and Flag Repeat ??The Olectra scrip has historically followed a pole and flag pattern and is the next flag exit coming soon in the near-term. This idea analyzes the chart on a weekly timeframe and discusses the factors to look out in order to participate in what could be the next uprun in this scrip.
Descending triangle pattern - Will it Breakout?Olectra Greentech: Growth Potential
Olectra Greentech is positioned for substantial growth in the electric vehicle (EV) sector. The company's recent financial performance highlights its potential:
Revenue Growth: A 45% increase in consolidated revenue.
Profitability: A 34% rise in profit after tax (PAT).
Production Capacity: Plans to scale up production to 5,000 electric buses annually by FY '26.
Market Demand: Strong demand evidenced by the delivery of 1,850+ electric buses.
Risks to Consider
While Olectra shows promise, there are fundamental risks:
Valuation Concerns: A high price-to-sales ratio of 12.9x, suggesting potential overvaluation.
Operational Efficiency: Challenges in inventory management could affect profitability.
Return Metrics: A return on capital employed (ROCE) of 13%, which is below industry norms.
Growth Valuation: A PEG ratio of 6.6, indicating that growth might not justify the current valuation.
olectra **Olectra Greentech Ltd**
### 🔴 **Red Downtrend Line** (Resistance)
This red line represents a **downward resistance line** where the stock price has previously struggled to break above.
🛑 Every time the price has reached this line, it has reversed or dropped, showing that sellers have stepped in.
### 🔵 **Blue Support Line**
This blue line at the bottom acts as **support** for the stock. The price has bounced off this level multiple times, showing that buyers step in when the price approaches it.
🛡️ Each bounce from the blue line indicates that investors find value at this level.
### 🔵 **Blue Circles** (Testing Levels)
The circles indicate where the price has repeatedly tested the resistance or support lines.
📉 Each test of the **resistance line** has led to a pullback until now.
📈 Each test of the **support line** has shown buying interest, pushing the price back up.
### 🟢 **Green Trend Line** (Buying Interest)
This line shows an increase in **buying interest** in the stock over time.
📊 The rise in the line suggests a higher level of demand, potentially leading to a breakout above the red resistance line.
### 📉 **Key Price Level: ₹1,754.10**
This price level is where the stock is currently testing resistance.
🎯 If the stock breaks above this level with strong volume, it could indicate the start of an upward trend.
### 📈 **Volume Bars at Bottom**
Higher green volume bars (buying volume) have accompanied price movement toward the resistance, indicating growing investor interest.
🔥 A spike in green volume can be a bullish signal if the price breaks above the resistance.
### 📊 **Possible Breakout Scenario**
If the stock price successfully breaks through the red downtrend line with volume support, it could indicate the start of a bullish trend.
- 🚀 Breaking this resistance could lead to a sharp upward move if buying interest continues.
In summary:
- 🟢 **Buying interest** is increasing, shown by the green trendline.
📉 The stock is currently testing the resistance level around ₹1,754.
🔍 **Key levels** of support and resistance suggest that a breakout or breakdown could be imminent.
The chart suggests that this is a crucial level to watch for potential movements. However, as noted on the chart, there is no recommendation for buy or sell actions.
OLECTRA Triangle BreakoutOLECTRA Triangle Breakout
Good support taken during correction. Volume increasing. Breakout expected in coming week.
Refer Chart for support and resistance
SWING IDEA - OLECTRANSE:OLECTRA Greentech Ltd. has garnered significant interest recently, following the Government of India's announcement of an incentive scheme for electric vehicles (EVs). This development has positively impacted the stock's performance.
Key Observations:
1. Resistance Turned Support: The ₹1640 level, previously a resistance point, has been successfully retested and converted into support (June retest). The stock has since maintained an upward trajectory.
2. MACD Crossover: A bullish MACD crossover is imminent on the weekly chart, indicating building momentum.
3. Swing High Target: A successful crossover could propel the stock towards its previous swing high levels in the coming weeks.
Recommendation:
If the MACD crossover materializes, it could signal a continuation of the upward trend. Investors should monitor the market conditions closely to ensure the trade setup aligns with the anticipated plan.
Disclaimer: This analysis is for informational purposes only and should not be considered as investment advice. Please conduct thorough research and consult with a financial advisor before making any investment decisions.
OLECTRA OLECTRA
╰‿╯Olectra Greentech Limited was incorporated in 2000 . The Company is primarily engaged in the manufacturing of composite polymer insulators and electrical buses. Its registered office is in Hyderabad.
Olecra greentech looking bullish Olectra Greentech making semi triangle pattern
Buy level above on 1882 level
OLECTRA GREENTECH LTD (NSE) for Positional Trade SetupKey Observations from the Chart:
Price Action: The stock price has been on a downward trend, recently breaking below a support level. This indicates potential bearish momentum.
Technical Indicators:
TEMA (Triple Exponential Moving Average): The TEMA lines are below the price, suggesting a bearish bias.
Supertrend: The Supertrend is also below the price, indicating a downtrend.
RSI (Relative Strength Index): The RSI is below 50, indicating oversold conditions but doesn't necessarily signal a reversal.
Support and Resistance: The horizontal lines on the chart likely represent significant support and resistance levels. The recent break below the support level is a concerning sign.
Potential Positional Trade Setup (Bearish):
Strategy: Short-term bearish position, aiming to capitalize on the ongoing downtrend and potential further decline.
Entry:
Price: Below the recent support level (around 1,628.45)
Stop-Loss: Above the nearest resistance level (around 1,699.00)
Risk-Reward Ratio: Consider a risk-reward ratio of at least 1:2 or higher to manage risk effectively.
Target:
Price: A specific target level can be determined based on technical analysis, such as a Fibonacci retracement or a previous support level turned resistance.
Exit:
Profit Taking: Exit when the price reaches the target level or if the market conditions change significantly.
Stop-Loss: If the price moves above the stop-loss, exit the position to limit losses.
Considerations and Additional Analysis:
Fundamental Analysis: Consider factors like company financials, industry trends, and news to support the technical analysis.
Risk Management: Implement proper risk management strategies, including position sizing and diversification.
Timeframe: Determine the appropriate timeframe for your trade based on your investment horizon and risk tolerance.
Remember: The market is dynamic, and conditions can change rapidly. Continuously monitor the chart, adjust your strategy as needed, and be prepared to adapt to evolving circumstances.
Would you like to explore any other technical indicators or aspects of this chart in more detail?
OLECTRA GREENTECH S/R for 19/7/24Support and Resistance Levels: In technical analysis, support and resistance levels are significant price levels where buying or selling interest tends to be strong. They are identified based on previous price levels where the price has shown a tendency to reverse or find support.
Support levels are represented by the green line and green shade, indicating areas where buying interest may emerge to prevent further price decline.
Resistance levels are represented by the red line and red shade, indicating areas where selling pressure may arise to prevent further price increases. Traders often consider these levels as potential buying or selling opportunities.
Breakouts: Breakouts occur when the price convincingly moves above a resistance level (red shade) or below a support level (green shade). A bullish breakout above resistance suggests the potential for further price increases, while a bearish breakout below support suggests the potential for further price declines. Traders pay attention to these breakout signals as they may indicate the start of a new trend or significant price movement.
20 EMA: The yellow line denotes 20 EMA, to interpret the 20 EMA, you need to compare it with the prevailing stock price. If the stock price is below the 20 EMA, it signals a possible downtrend. But if the stock price is above the 20 EMA, it signals a possible uptrend.
Disclosure: I am not SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. It is important to consult with a qualified financial advisor before making any investment decisions. Tweets neither advice nor endorsement.
Triangle Pattern At a good support level we can see a up side movement and always keep stop loss . In this case we can take stop loss below the support level
Olectra Greentech chart daily TFOlectra Greentech looking very attractive above 1850. its my personal view not any trade suggestion.
Unbelievable Stock Surge :How OLECTRA GREEN TECH Could SkyrocketOLECTRA GREEN TECH is known for its significant price movements, typically following breakouts. Since its initial launch, the stock has surged from 4-5 Rs to 2200 Rs, marking a remarkable +47,000% increase. Currently, there appears to be a promising opportunity as the stock consolidates within a triangular pattern. With a suggested stop loss below the 1450 Rs mark, there is potential for a minimum 30% upward movement, with a downside risk of 5% when the stock reaches support levels. Adjustments to the stop loss may be necessary during a breakout, but maintaining it around the 1450 Rs level seems prudent.
Unlocking Growth with #Olectra Greentech in the Green EnergyAccelerating ahead for next gen-transport system
Olectra Greentech Ltd. (OGL), is a subsidiary of Megha Engineering and
Infrastructures Ltd. (MEIL). The company is primarily engaged in the
manufacturing of electric buses and composite polymer insulators.
• EV adoption in buses is likely to speed up in the current year, and the center
plans to procure 50,000 buses with an investment outlay of Rs.1,000 cr.
• Olectra bags the biggest ever order of 2,100 electric buses worth Rs.3,675 cr.
The company received this order from BEST (Brihanmumbai Electric Supply
and Transport), Mumbai.
• The technical partnership between Olectra and Reliance on the Hydrogen Bus
project is officially expected to launch next year.
• With the formation of a JV with BYD (Build Your Design) China for electric
buses, the company is expanding its product line in the e-mobility segment
for 3-wheeler electric autos and electric truck tippers.
• We initiate OGL with a target of Rs.738, at 35x FY25E EPS. Recommend
Accumulate rating, considering capacity expansion & strong earnings growth.
Disclaimer: this is my personal view and not a buy/sell recommendation. I am not SEBI registered.
Olectra Greentech LimitedStock is down 25% from its all time high.Keep it on a radar, it can bounce back from the support level 1 or can break the support level and move to level 2.
Bullish Pennant & W patternOlectra is forming Bullish Pennant, double bottom in pennant, if it completes the formation, then it moves above 1800
