“Olectra Greentech – Testing Multi-Month Resistance”

📊 Technical View 1️⃣ Trend Context: Stock had a massive rally in 2023, peaking near ₹2,300. Since then, it has been in a long corrective phase (almost 18 months). 2️⃣ Current Price Action: Trading at ₹1,606 – testing falling trendline resistance + 200-week EMA (~₹1,580). Volume is picking up, suggesting accumulation. A sustained move above ₹1,650–1,700 can trigger a major breakout. 3️⃣ Key Levels: Support: ₹1,430 & ₹1,110. Resistance / Breakout Zone: ₹1,650–1,700. Upside Targets (if breakout holds): ₹1,950 → ₹2,300 (previous ATH). 🚀 Learning Takeaway Weekly timeframe breakouts are powerful – they often lead to multi-month moves. Consolidation after a strong rally + testing resistance = sign of energy building up. Watch for volume confirmation above ₹1,700.