📈 Analysis Overview:
After an extended downtrend, OLA has finally broken out of the descending resistance line with strong bullish momentum. Price action has respected the major support zone around ₹39.69, which has acted as a key demand area in the past.
✅ Key Levels to Watch:
Support: ₹39.69 (strong base)
Intermediate Resistance: ₹45.44 (current retest area)
Targets: ₹54.80 and ₹58.36
Potential Upside: ~31% from current levels
📊 Trade Plan:
Entry Zone: Around current price action, ideally after a minor pullback/retest of the breakout trendline.
First Target: ₹54.80
Final Target: ₹58.36
Stop Loss: Below ₹39.00 to maintain good risk-reward
📈 Rationale:
Clear breakout after prolonged selling pressure
Strong support confirmation near ₹39.69
Volume expansion signals possible accumulation phase
Technical projection shows a potential ~30% upside within the next 3–4 weeks
📝 Note:
This is a swing trade idea based on technical structure. Always manage risk and adapt to market conditions.
After an extended downtrend, OLA has finally broken out of the descending resistance line with strong bullish momentum. Price action has respected the major support zone around ₹39.69, which has acted as a key demand area in the past.
✅ Key Levels to Watch:
Support: ₹39.69 (strong base)
Intermediate Resistance: ₹45.44 (current retest area)
Targets: ₹54.80 and ₹58.36
Potential Upside: ~31% from current levels
📊 Trade Plan:
Entry Zone: Around current price action, ideally after a minor pullback/retest of the breakout trendline.
First Target: ₹54.80
Final Target: ₹58.36
Stop Loss: Below ₹39.00 to maintain good risk-reward
📈 Rationale:
Clear breakout after prolonged selling pressure
Strong support confirmation near ₹39.69
Volume expansion signals possible accumulation phase
Technical projection shows a potential ~30% upside within the next 3–4 weeks
📝 Note:
This is a swing trade idea based on technical structure. Always manage risk and adapt to market conditions.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.