OLECTRA - Technical Analysis with Chart Patterns & Indicators
Back to ListTechnical Rating: 4.3
| Stock Code | OLECTRA | Market Cap | 8,687 Cr. | Current Price | 1,058 ₹ | High / Low | 1,714 ₹ |
| Stock P/E | 59.2 | Book Value | 137 ₹ | Dividend Yield | 0.04 % | ROCE | 21.0 % |
| ROE | 14.2 % | Face Value | 4.00 ₹ | DMA 50 | 1,032 ₹ | DMA 200 | 1,229 ₹ |
| Chg in FII Hold | -0.14 % | Chg in DII Hold | 0.13 % | PAT Qtr | 47.1 Cr. | PAT Prev Qtr | 52.8 Cr. |
| RSI | 60.8 | MACD | -29.6 | Volume | 91,94,987 | Avg Vol 1Wk | 21,57,002 |
| Low price | 867 ₹ | High price | 1,714 ₹ | PEG Ratio | 1.07 | Debt to equity | 0.28 |
| 52w Index | 22.6 % | Qtr Profit Var | 1.75 % | EPS | 17.9 ₹ | Industry PE | 29.0 |
📊 Chart & Trend Analysis: OLECTRA is trading at ₹1,058, slightly above its 50 DMA (₹1,032) but below its 200 DMA (₹1,229), showing short-term strength but medium-term weakness. RSI at 60.8 indicates mild overbought conditions. MACD at -29.6 reflects bearish divergence despite price stability. Bollinger Bands suggest price is near the mid-range, with support around ₹1,030 and resistance near ₹1,150–₹1,200.
📈 Momentum & Volume: Current volume (91,94,987) is significantly higher than the 1-week average (21,57,002), showing strong participation. However, momentum is mixed, with RSI overbought and MACD bearish, signaling caution.
🔑 Entry & Exit Zones:
- Optimal Entry: ₹1,030–₹1,050 (near support)
- Resistance Levels: ₹1,150 (short-term), ₹1,229 (medium-term)
- Exit Zone: ₹1,120–₹1,180 if momentum strengthens
📌 Trend Status: The stock is currently consolidating with mixed signals—short-term strength but medium-term bearish bias.
Positive
- Strong ROCE (21.0%) and ROE (14.2%) highlight operational efficiency.
- EPS of ₹17.9 reflects consistent earnings power.
- PEG ratio of 1.07 suggests fair valuation relative to growth.
- Volume surge indicates strong investor interest.
Limitation
- High P/E ratio (59.2) compared to industry PE (29.0), indicating overvaluation.
- Trading below 200 DMA reflects medium-term weakness.
- Dividend yield at 0.04% is negligible for income-focused investors.
Company Negative News
- Quarterly PAT declined to ₹47.1 Cr. vs ₹52.8 Cr. previously.
- FII holding decreased (-0.14%), showing reduced foreign investor confidence.
Company Positive News
- DII holding increased (+0.13%), signaling domestic institutional support.
- Strong fundamentals with high ROCE and ROE despite short-term profit decline.
Industry
- Industry PE at 29.0 is significantly lower than OLECTRA’s P/E, suggesting sector peers may be more attractively valued.
- EV and clean energy sector remains high-growth, supported by government incentives and rising adoption trends.
Conclusion
⚖️ OLECTRA shows strong fundamentals with high ROCE/ROE and strong investor participation, but technicals remain mixed with overvaluation concerns and medium-term weakness. The stock is consolidating near support levels. A cautious entry around ₹1,030–₹1,050 may be considered with exit targets near ₹1,120–₹1,180 if momentum improves. Long-term investors should monitor valuation and profit growth before committing heavily.
Would you like me to extend this into a peer benchmarking overlay against other EV and clean energy players (like Tata Motors EV, Mahindra Electric, and JBM Auto) to highlight relative strength and margin-of-safety clarity?