OLECTRA - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 19 Sept 25, 2:16 pm

Technical Rating: 4.4

Here’s a detailed technical analysis of Olectra Greentech Ltd (OLECTRA)

📊 Trend Overview

Current Trend: Bullish

Phase: Trending with strong momentum

Bias: Positive, supported by price action above key moving averages and strong MACD

📈 Technical Indicators Analysis

🔹 Moving Averages

50 DMA: ₹1,481

200 DMA: ₹1,382

Current Price: ₹1,665

Price is well above both DMAs → confirms strong bullish trend

Rising slope on both averages → momentum is accelerating

🔹 RSI (Relative Strength Index)

RSI: 66.6

Bullish zone, nearing overbought territory

Indicates strong buying interest; caution advised near ₹1,750+

🔹 MACD (Moving Average Convergence Divergence)

MACD: 54.0

Strongly positive → confirms bullish momentum

Histogram expanding → trend strength remains intact

🔹 Bollinger Bands

Price near upper band → bullish breakout zone

Bands expanding → rising volatility

Suggests continuation if volume supports the move

🔹 Volume Trends

Current Volume: 6.06 lakh

1-Week Avg Volume: 8.45 lakh

Volume slightly below average → mild consolidation

Watch for volume surge to confirm breakout above ₹1,700

📌 Support & Resistance Levels

Level Price (₹) Commentary

Support 1 1,620 Minor pullback zone

Support 2 1,481 50 DMA, strong base

Resistance 1 1,700 Immediate resistance

Resistance 2 1,787 52-week high, major ceiling

Resistance 3 1,850 Projected breakout target

🎯 Entry & Exit Zones

Optimal Entry Zone: ₹1,620–₹1,650 (on pullback near support)

Exit Zone / Profit Booking: ₹1,787–₹1,850 (resistance and breakout target)

🔍 Momentum Signals

Short-Term: Bullish momentum with breakout potential

Medium-Term: Trending upward with confirmation from MACD and moving averages

Volume: Slightly below average, but trend remains intact

🧭 Conclusion

OLECTRA is currently trending upward, supported by bullish indicators across the board. Price action above moving averages, a strong MACD, and expanding Bollinger Bands suggest continuation. Traders may consider entering on dips near ₹1,620 with targets around ₹1,787–₹1,850, while monitoring RSI and volume for signs of short-term exhaustion or breakout confirmation.

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