⚡ Olectra Greentech – Wave 2 Completion & Start of a Potential New Impulse

Elliott Wave Structure The chart clearly shows a completed 5-wave impulse (1–5) from 2020 to mid-2024. After that, the stock entered a corrective phase (A–B–C type) with a low near ₹1,145, forming a potential Wave 2 bottom. The bounce from ₹1,145 to ₹1,688 indicates the beginning of Wave 3 if the correction has indeed ended. Moving Average & Trend Confirmation The 200 MA (₹1,113) continues to slope upward → long-term uptrend intact. Price has respected the MA as dynamic support during corrections — a bullish sign of trend continuation. 🔍 Interpretation Olectra has likely completed its corrective Wave 2 and is building strength for a Wave 3 advance. Sustained monthly close above ₹1,700 would confirm trend continuation, with ₹1,975–₹2,100 as the next milestone zone.