Turning Bullish: Olectra Greentech

Stock Fundamentals:

• Olectra Greentech Limited is primarily engaged in the manufacturing of composite polymer insulators (12.5%) and electrical buses (87.5%)
  
• Market Cap: ₹ 14,040 Cr.
  
• Stock P/E: 170; Book Value: ₹ 111;
  
• ROCE: 14.8 %; ROE: 8.77 %; OPM %: 14%
  
• Olectra has delivered good profit growth of 46.6% CAGR over last 5 years.
  

Technical Trends

• Olectra has turned bullish.
  
• 20EMA has just crossed 50EMA with decent volume.
  
• A couple of days back, it took strong support from 1655 levels and trading near 1708 levels currently.
  
• Resistance levels: 1740, 1803, 1955
  
• Support levels: 1655, 1606, 1555, 1522