OLA ELECTRIC MOBILITY: Consolidation After Channel Breakout.

l’altro ieri

✅ Falling Channel Breakout: The stock recently broke out of a steep falling channel, indicating a potential trend reversal.

✅ Consolidation Above Support: Currently consolidating between ₹92-₹103, forming a solid base for the next potential move.

✅ Volume Spike on Breakout: Significant volume was observed during the breakout phase, adding conviction to the bullish bias.

🎯 Key Levels to Watch:

Entry: ₹103.30 (Breakout confirmation above the consolidation range)
Stop Loss: ₹88.53 (Closing Basis)
Target 1: ₹123.37
Target 2: ₹158.16

💡 Risk/Reward Analysis:

Risk: ~15% (₹103.30 to ₹88.53)
Reward: ~19% for Target 1, ~53% for Target 2

📌 Trade Setup: Wait for a breakout above ₹103.30 with volume to confirm entry. Ensure strict risk management to protect your capital.

Caution: Market volatility may influence the stock's movement. Always align trades with your investment strategy and risk tolerance.

#OlaElectric #BreakoutStocks