Ola Electric shares down 34% year-to-date; which way is the EV stock headed?
Ola Electric: The pure-play EV firm announced that the first day of its Ola Muhurat Mahotsav saw an unprecedented response, with all units on offer sold out within just five minutes of the window opening.
- Sep 24, 2025,
- Updated Sep 24, 2025 6:25 PM IST
Shares of Ola Electric Mobility Ltd fell 2.25 per cent on Wednesday, closing at Rs 56.92. At this level, the stock has dropped 33.99 per cent year-to-date (YTD). The pure-play EV firm announced that the first day of its Ola Muhurat Mahotsav saw an unprecedented response, with all units on offer sold out within just five minutes of the window opening.
The strong demand was driven by Ola's recently launched festive campaign, Ola Celebrates India, which offered never-before prices starting at Rs 49,999 for its popular S1 scooters and Roadster X motorcycles.
"The Day 1 rush saw several eager customers logging in simultaneously to secure their vehicles during the limited-time Muhurat slot," Ola Electric stated.
From a technical standpoint, some analysts see Ola Electric trading in a defined near-term range, with support around Rs 50-56 and resistance between Rs 61-68. While one expects consolidation with support near Rs 50-54, another warns of a further drop if Rs 56 breaks. A third analyst highlighted a short-term range of Rs 55-65, with potential upside on a breakout above Rs 63.
Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said, "Ola Electric is in a consolidation phase following its recent strong rally. Any further decline toward the breakout neckline, located around the Rs 54-50 zone, is expected to offer support against further downside. On the upside, the next potential resistance is likely in the 64-68 range."
Sebi-registered analyst AR Ramachandran noted, "Ola Electric's stock is bearish on daily charts with strong resistance at Rs 61. A daily close below the support of Rs 56 could trigger a further drop towards Rs 46 level in the near term."
Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, said support is placed at Rs 55 and resistance at Rs 63. A breakout above Rs 63 may lead to Rs 65, with the short-term trading range expected between Rs 55 and Rs 65.
Founded in 2017, Ola Electric manufactures electric two-wheelers and components such as battery packs, motors and frames at its Ola Futurefactory. As of June 2025, promoters held a 36.78 per cent stake in the company.
Shares of Ola Electric Mobility Ltd fell 2.25 per cent on Wednesday, closing at Rs 56.92. At this level, the stock has dropped 33.99 per cent year-to-date (YTD). The pure-play EV firm announced that the first day of its Ola Muhurat Mahotsav saw an unprecedented response, with all units on offer sold out within just five minutes of the window opening.
The strong demand was driven by Ola's recently launched festive campaign, Ola Celebrates India, which offered never-before prices starting at Rs 49,999 for its popular S1 scooters and Roadster X motorcycles.
"The Day 1 rush saw several eager customers logging in simultaneously to secure their vehicles during the limited-time Muhurat slot," Ola Electric stated.
From a technical standpoint, some analysts see Ola Electric trading in a defined near-term range, with support around Rs 50-56 and resistance between Rs 61-68. While one expects consolidation with support near Rs 50-54, another warns of a further drop if Rs 56 breaks. A third analyst highlighted a short-term range of Rs 55-65, with potential upside on a breakout above Rs 63.
Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said, "Ola Electric is in a consolidation phase following its recent strong rally. Any further decline toward the breakout neckline, located around the Rs 54-50 zone, is expected to offer support against further downside. On the upside, the next potential resistance is likely in the 64-68 range."
Sebi-registered analyst AR Ramachandran noted, "Ola Electric's stock is bearish on daily charts with strong resistance at Rs 61. A daily close below the support of Rs 56 could trigger a further drop towards Rs 46 level in the near term."
Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, said support is placed at Rs 55 and resistance at Rs 63. A breakout above Rs 63 may lead to Rs 65, with the short-term trading range expected between Rs 55 and Rs 65.
Founded in 2017, Ola Electric manufactures electric two-wheelers and components such as battery packs, motors and frames at its Ola Futurefactory. As of June 2025, promoters held a 36.78 per cent stake in the company.