Ola Electric continues to trade under pressure, and I believe the stock is approaching a crucial decision zone. Despite negative sentiment, this is not where I want to chase shorts. Instead, I am waiting for one final trap move before considering fresh accumulation.
Technical Overview
CMP: ₹40.39
Trading below the 21 EMA and 55 EMA, indicating short-term weakness.
Price is also below the daily pivot of ₹41.50, keeping bears in control.
Immediate support lies around ₹40.20, followed by ₹39.40–38.10.
My View
I expect one more sharp dip below ₹40 to trigger panic selling and stop-loss hunting.
If that happens and the stock quickly reclaims ₹40 with strong buying, I will start accumulating.
That would indicate sellers are getting exhausted and demand is returning.
Trading Plan
Accumulation Zone:
₹39–40 after a false breakdown.
Confirmation:
Sustained move back above ₹40.
Stop Loss:
₹38 (closing basis).
Targets:
₹44
₹48
₹52
Supporting Factors
Analyst sentiment remains weak, with 75% Sell ratings and no Buy recommendations.
The stock has declined over 10% in the last week, reflecting continued pessimism.
Price is trading below key moving averages, keeping the short-term trend bearish.
Final View
The current trend is still weak, so I am not buying yet.
I will wait for one final shakeout below ₹40. If price reclaims and sustains above that level, I believe the risk-reward improves significantly, and that could mark the beginning of the next recovery leg.
This analysis is for educational purposes only and not financial advice.
#OlaElectric #TechnicalAnalysis #PriceAction #SwingTrading #IndianStockMarket #NSE
Technical Overview
CMP: ₹40.39
Trading below the 21 EMA and 55 EMA, indicating short-term weakness.
Price is also below the daily pivot of ₹41.50, keeping bears in control.
Immediate support lies around ₹40.20, followed by ₹39.40–38.10.
My View
I expect one more sharp dip below ₹40 to trigger panic selling and stop-loss hunting.
If that happens and the stock quickly reclaims ₹40 with strong buying, I will start accumulating.
That would indicate sellers are getting exhausted and demand is returning.
Trading Plan
Accumulation Zone:
₹39–40 after a false breakdown.
Confirmation:
Sustained move back above ₹40.
Stop Loss:
₹38 (closing basis).
Targets:
₹44
₹48
₹52
Supporting Factors
Analyst sentiment remains weak, with 75% Sell ratings and no Buy recommendations.
The stock has declined over 10% in the last week, reflecting continued pessimism.
Price is trading below key moving averages, keeping the short-term trend bearish.
Final View
The current trend is still weak, so I am not buying yet.
I will wait for one final shakeout below ₹40. If price reclaims and sustains above that level, I believe the risk-reward improves significantly, and that could mark the beginning of the next recovery leg.
This analysis is for educational purposes only and not financial advice.
#OlaElectric #TechnicalAnalysis #PriceAction #SwingTrading #IndianStockMarket #NSE
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.