Olectra Greentech Ltd — Weekly Trendline Breakout Recovery SetupOlectra Greentech LimitedNSE:OLECTRATEDXTradesindiaOLECTRA is approaching a decisive technical juncture on the weekly timeframe. After correcting nearly 60% from its peak, the stock has established a strong accumulation base and is now challenging a long-term descending resistance line. The recent rally from the ₹865 demand zone demonstrates renewed buying interest and improving market sentiment. A successful breakout above the trendline and Fibonacci resistance cluster could trigger a fresh medium-term uptrend. Key Levels: Current Price: ₹1,287 Immediate Resistance: ₹1,396 Major Resistance: ₹1,560 Support Zone: ₹1,130–₹1,070 Major Demand Zone: ₹865 Invalidation Level: Weekly close below ₹1,050 Trade Plan Aggressive Entry Near current levels while holding above ₹1,200 Conservative Entry Weekly close above ₹1,400 with volume confirmation Targets 🎯 Target 1: ₹1,396 🎯 Target 2: ₹1,560 🎯 Extended Target: ₹1,725 Potential upside from current levels: ~8% to T1 ~21% to T2 ~34% to extended target Technical Observations Descending trendline resistance under pressure Fibonacci retracement levels acting as roadmap Momentum oscillator has crossed above the neutral zone Relative strength improving versus broader market Recovery rally supported by higher volumes Weekly structure favors continuation if breakout succeeds Why This Setup Matters OLECTRA is a classic example of a stock transitioning from a prolonged correction into a possible accumulation and recovery phase. Breakouts from long-term descending trendlines often attract both positional investors and momentum traders. A sustained move above ₹1,400 could signal the beginning of a larger trend reversal toward ₹1,560–₹1,725. Disclaimer This analysis is for educational purposes only and should not be considered investment advice. Trading and investing in securities involve substantial risk. Always conduct your own research, follow disciplined risk management practices, and consult a qualified financial advisor before making investment decisions.