Olectra Greentech Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 3,071.63 million compared.
Surpassing the 100-day SMA is often considered a bullish signal, indicating potential medium-term growth. On November 1, several major stocks surged above their 100-day SMA, signaling potential bullish trends.
Based on the OI percentage, 81 stocks were on the short-covering list. These include Indraprastha Gas, Britannia Industries, Dr Lal PathLabs, Mahanagar Gas, and Maruti Suzuki India.
Welspun India formed robust bullish candlestick pattern on the daily timeframe with strong volumes. The stock maintained downward sloping resistance trendline breakout in the mid of October as well as stayed above all key moving averages, which is a positive sign.