Olectra Greentech–Technical Analysis, Support and Resistance

The stock OLECTRA remains in a strong corrective trend after declining from the ₹1500–1550 zone. The stock is currently trading at ₹1013 down 3.48% in the latest session. It has shown a small recovery from the ₹950–980 area but the recent rejection near ₹1050–1100 indicates that selling pressure remains at higher levels. Support & Resistance: Immediate support is around ₹1000–980. Below this the next support zone is ₹950–930. On the upside ₹1045–1060 is the immediate resistance area followed by ₹1080–1100. Short-Term Buyers & Holders View Fresh buying may be considered only after a sustained close above ₹1060 with strong volume. Existing holders should monitor the ₹980 support zone. A breakdown below this level may lead to further weakness.