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Unite Technologies Financial

19th May · SEBI-Registered Analyst

Technical Analysis Ola Electric (OLAELEC)

The stock

OLAELEC
has been in a severe long-term downtrend falling from highs near 76 down to a low around 24. However the recent price action shows early signs that the heavy selling pressure might be exhausting. the stock is trading at 36.58. It is in a consolidation phase cooling off after that big April rally. The trading volume has also dried up during this recent downward drift which is a normal and healthy sign during a pullback. Support immediate short-term support is around 32. The major rock-solid base is down at the 24 level. Resistance the immediate hurdle to cross is the recent swing high between 44 and 46. The stock is currently resting in a sideways range. For a confirmed trend reversal and a safe new entry the stock needs to break out above the 44-46 resistance level with strong volume. For Holders maintain your current positions but keep a strict stop-loss just below the 32 support level to protect your capital. For New Buyers the safest strategy right now is to wait for a clear high-volume breakout above the 44-46 resistance zone before taking a fresh entry. Aggressive Buyers you can look to accumulate if the price dips closer to 32 but ensure your stop-loss is tight. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.

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