The stock is nearing a critical resistance zone after a 120% move off key Fibonacci support, with Sharma calling it one of the best-structured trend legs in renewables this quarter.

Shares of Oriana Power are nearing a crucial supply zone between ₹2,304 and ₹2,385, after a 120% rise from its 0.786 Fibonacci retracement level, according to SEBI-registered analyst Rajneesh Sharma.

At the time of writing, Oriana Power shares were trading at ₹2,261, down 1.2% on the day.

He called it “one of the best-structured trend legs in the renewables space this quarter,” and said buyers are now pressing into the supply wall, with the next potential resistance at ₹2,530.

Sharma said the move is supported by a clean Fibonacci structure, expanding trading volumes, and improving business fundamentals. 

Oriana has absorbed multiple Fib levels, with the 0.786 level at ₹1,278 acting as a powerful reversal point. 

He added that support now stands at ₹1,681, ₹1,901, and ₹2,107.

Sharma highlighted that Oriana's earnings for FY25 rose 196% year-on-year to ₹163 crore, while the company has secured over ₹2,500 crore in orders and signed MoUs worth ₹15,500 crore. 

The business is scaling across solar EPC, battery energy storage systems (BESS), and green hydrogen, with the BESS pipeline exceeding 1 GWh.

The analyst said Oriana’s debt-to-equity profile is improving, and the company appears well-positioned to fund its next growth phase. 

He noted that Oriana is also executing its first interstate transmission system (ISTS) projects, providing access to the national grid.

Sharma said the stock’s recent behavior shows “wide bullish candles on rising volume” without topping signals, and that buyers are compressing price action below ₹2,385 — a sign that supply may be getting absorbed.

Sharma said a breakout above ₹2,385 could open the path to ₹2,530 and ₹2,790, while a rejection may lead to a pullback toward ₹2,107–₹1,901, which he called a “high-quality re-entry zone.” 

He added that no breakdown risk exists unless ₹1,901 is breached.

“This breakout attempt is real,” Sharma said, adding that Oriana Power is in its most technically and fundamentally aligned setup since its listing.

On Stocktwits, retail sentiment was ‘neutral’ amid extremely high’ message volume.

The stock has risen 1.1% so far in 2025.

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