Feb 24 2024, 08:45
Stock Radar: Multibagger with over 400% return in 1 year! What should investors do with this EV stock?
Short-term traders can look to buy the stock on dips for a possible target of Rs 2,300 in the next 1-2 weeks, suggested experts.
The stock rose from Rs 399 on February 21, 2023, to Rs 2,062 recorded on February 21, 2024, which translates into an upside of over 400% in a year. It has been in an uptrend since February 2023 when it made a low above 300 levels on the monthly charts. The stock gained over 6% in a week, nearly 30% in a month, and more than 60% in the last 3 months.
Olectra Greentech is India's first electric bus manufacturer. It offers a green energy solution to public transport by introducing EBUS with zero emissions.
The stock rose from Rs 399 on February 21, 2023, to Rs 2,062 recorded on February 21, 2024, which translates into an upside of over 400% in a year. It has been in an uptrend since February 2023 when it made a low above 300 levels on the monthly charts. The stock price has been in a rising trend since then.
Olectra gained over 6% in a week, nearly 30% in a month, and more than 60% in the last 3 months. The momentum pushed the stock to a record high of Rs 2,222 on February 22, 2024.
In terms of price action, the stock is trading well above most of the crucial short- and long-term moving averages such as 5,10,30,50,100 and 200-DMA on the daily charts.
source:et
Feb 24 2024, 08:47
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