Ola zooms 10%, up 120% in just 12 weeks. What's ahead?
Shares of Ola Electric Mobility surged 10% on Tuesday, extending the sharp rally in the EV scooter-maker’s stock. The stock has now climbed nearly 120% in less than three months from its record low of Rs 21.2.
Ola shares rose to Rs 49.05 apiece on the NSE on Tuesday — their highest level since November last year. The company’s market capitalisation currently stands at around Rs 22,465 crore.
After hitting a 52-week high of Rs 71.25 apiece in September last year, the stock plunged nearly 69% to touch a 52-week low of Rs 22.25 on March 16 this year. Since then, the shares have rebounded about 120%, although they still trade more than 31% below their 52-week peak.
Despite the recent recovery, longer-term investors may still be nursing steep losses.
After a flat market debut in August 2024, Ola shares rallied sharply to hit a lifetime high of Rs 157.40 apiece later that year. But the momentum reversed dramatically, with the stock falling to a lifetime low of Rs 22.25 in March 2026, nearly one-seventh of its peak value.
More recently, the stock has gained around 22% in the past week and 34% over the last month.
What lies ahead for Ola Electric share price?
Ola Electric’s 10% rally is technically significant because the stock has finally broken above its long downward-sloping trendline after months of forming lower highs, said Harshal Dasani, Business Head at INVasset PMS.
According to Dasani, this marks the first meaningful attempt at a trend reversal since the post-listing weakness began. He added that the breakout has been accompanied by strong volumes, making the move more credible than earlier relief rallies that faded near resistance levels.
That said, the stock is now entering a tougher zone.
“RSI is around the mid-70s, which shows strong momentum but also indicates near-term overheating. After a sharp vertical move from the March-April lows, some cooling or retest of the breakout zone would be healthy.
The immediate support now shifts to the Rs 43–45 band, which earlier acted as resistance. If the stock sustains above this zone, the technical structure remains constructive. A slip below it would weaken the breakout and suggest another failed rally,” he said.
However, Dasani noted that the broader takeaway is that Ola Electric has moved from a weak downtrend into an early reversal phase.
“The move deserves attention, but not blind momentum chasing. For the breakout to mature, the stock needs follow-through, volume support and stability above the reclaimed trendline. Until then, this is a promising technical reversal, not yet a proven uptrend,” he added.
Ola shares rose to Rs 49.05 apiece on the NSE on Tuesday — their highest level since November last year. The company’s market capitalisation currently stands at around Rs 22,465 crore.
After hitting a 52-week high of Rs 71.25 apiece in September last year, the stock plunged nearly 69% to touch a 52-week low of Rs 22.25 on March 16 this year. Since then, the shares have rebounded about 120%, although they still trade more than 31% below their 52-week peak.
Despite the recent recovery, longer-term investors may still be nursing steep losses.
After a flat market debut in August 2024, Ola shares rallied sharply to hit a lifetime high of Rs 157.40 apiece later that year. But the momentum reversed dramatically, with the stock falling to a lifetime low of Rs 22.25 in March 2026, nearly one-seventh of its peak value.
More recently, the stock has gained around 22% in the past week and 34% over the last month.
What lies ahead for Ola Electric share price?
Ola Electric’s 10% rally is technically significant because the stock has finally broken above its long downward-sloping trendline after months of forming lower highs, said Harshal Dasani, Business Head at INVasset PMS.
According to Dasani, this marks the first meaningful attempt at a trend reversal since the post-listing weakness began. He added that the breakout has been accompanied by strong volumes, making the move more credible than earlier relief rallies that faded near resistance levels.
That said, the stock is now entering a tougher zone.
“RSI is around the mid-70s, which shows strong momentum but also indicates near-term overheating. After a sharp vertical move from the March-April lows, some cooling or retest of the breakout zone would be healthy.
The immediate support now shifts to the Rs 43–45 band, which earlier acted as resistance. If the stock sustains above this zone, the technical structure remains constructive. A slip below it would weaken the breakout and suggest another failed rally,” he said.
However, Dasani noted that the broader takeaway is that Ola Electric has moved from a weak downtrend into an early reversal phase.
“The move deserves attention, but not blind momentum chasing. For the breakout to mature, the stock needs follow-through, volume support and stability above the reclaimed trendline. Until then, this is a promising technical reversal, not yet a proven uptrend,” he added.
Next Story