Olectra Greentech (Weekly Chart) – Technical Analysis

$OLECTRA 1. Pattern Identification The stock has been in a long-term corrective phase since the 2024 peak near ₹2,200. A major descending trendline resistance connects the series of lower highs. After forming a base near ₹850–900, price has recovered strongly and is now approaching the falling trendline. The chart also shows a bullish structure with: Higher lows from the March 2026 bottom. Price trading above the 26, 52 and 225 EMA levels. Bullish EMA alignment beginning to develop. 5. Entry / Retest Zones Aggressive Entry ₹1,350–1,400 Suitable only if price consolidates above recent breakout levels. Conservative Entry Wait for a weekly breakout above ₹1,500. Buy on retest of ₹1,450–1,500 after confirmation. 6. Invalidation Level Medium-term structure remains bullish above ₹1,180–1,220 (52 EMA zone). Major bullish thesis invalid below ₹850. 7. Probability View Short-term (1–3 months): Bullish Medium-term (3–9 months): Strongly bullish if ₹1,500 is crossed on weekly closing basis. Long-term: Potential candidate for a move back toward ₹2,000–2,200 if EV/e-bus sector sentiment remains positive. 2. Breakout Zone Critical breakout area: ₹1,420–1,500 This zone contains: Long-term descending trendline resistance. Prior swing highs from the correction phase. A weekly close above this region would confirm a major trend reversal.