OLECTRA GREENTECH – Base Formation with Early Signs of Reversal ⚡🚌

📊 Chart Structure & Trend Overview: ✅ Timeframe: Weekly 🔁 Current Structure: Rounded bottom / potential base formation 📉 Previous Trend: Sharp correction from ₹2,300 (Feb 2024) to ₹1,050 (Apr 2025) — ~55% decline 📈 Now forming Higher Lows for last 3 months with price stabilizing above 200-week EMA 💡 Technical Highlights: 📌 200 EMA Support: Price has taken strong support around ₹1,090 (200 EMA) and is bouncing from there 📈 MACD: Clear bullish crossover on weekly chart – MACD line rising above signal line First positive histogram bars visible after a long bearish stretch 🔄 Structure: Early signs of a bottoming formation (accumulation zone between ₹1,050–₹1,300) ✅ This week’s candle: Bullish continuation with a 3.3% gain 🧱 Support & Resistance Levels: 🛡 Strong Support: ₹1,050–₹1,090 zone (prior low + 200 EMA) 🔼 Immediate Resistance: ₹1,300–₹1,330 (minor swing high) 🎯 Next Target on Breakout: ₹1,500–₹1,580 range 🧱 Major Resistance: ₹1,780–₹1,800 zone (gap + supply zone) 🧠 Momentum & Psychology: 🧊 Long Correction Phase: Stock has gone through time correction for over a year 💹 Smart Money Accumulation: Sideways price action with base forming typically indicates institutional buying 🔁 Trend Shift Zone: Price reclaiming key moving average and positive MACD are early trend reversal signals