OLAELEC A trendline support zone in a chart refers to a price level or area where the stock tends to find strong buying interest, preventing it from falling further. It is drawn by connecting two or more significant lows, creating a visual “support line” where buyers step in. In chart of Ola Electric Mobility Ltd., the price repeatedly bounced from the same horizontal support zone (around ₹40), showing that this level acted as a cushion. Every time the price approached this area, demand increased, leading to a reversal or upward move. Traders use such support zones to identify potential entry points, as they signal where the market respects a strong buying area.
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