Ola Electric shares jump over 9%; EV firm cuts Roadster prices: What short-term investors can do
Ola Electric: The stock surged 9.33 per cent to settle at Rs 28.35. However, despite the recent recovery, the counter remains down 47.47 per cent over the past six months.
- Apr 2, 2026,
- Updated Apr 2, 2026 4:52 PM IST
Shares of Ola Electric Mobility Ltd extended their gains for the second consecutive session on Thursday. The stock surged 9.33 per cent to settle at Rs 28.35. However, despite the recent recovery, the counter remains down 47.47 per cent over the past six months.
On the operational front, the pure-play EV company announced a significant price reduction for its flagship electric motorcycle, the Roadster X+ 9.1 kWh, powered by its indigenously developed 4680 Bharat Cell. The firm slashed the price by Rs 60,000, bringing it down to Rs 1,29,999 from Rs 1,89,999. The company attributed the price cut to improved cost efficiencies driven by economies of scale at its Gigafactory and deep vertical integration of battery cell production. The Roadster 9.1 kWh will be available in limited units during specific purchase windows.
Earlier, Ola Electric highlighted a rebound in business performance, noting that daily orders crossed 1,000 units in the last week of March 2026. Registrations rose to 10,117 units in March, as per VAHAN data, compared with 3,973 units in February, marking over 150 per cent month-on-month growth and indicating a sharp pickup in demand momentum. The company also said its market share witnessed a V-shaped recovery on a monthly basis.
From a technical standpoint, analysts see key support in the Rs 23–22 zone, while resistance is expected around Rs 32–35 levels. With that being said, one of them suggested exiting on any bounce towards Rs 30 level from a short-term perspective.
Shiju Koothupalakkal, Technical Research Analyst at Prabhudas Lilladher (PL), said, "The stock recently after crashing heavily from the Rs 70 zone has found some stability near Rs 23 level with consolidation happening and currently has indicated a revival to reach the important 50EMA level placed at Rs 28. One can expect the upward move till Rs 32-33 level and thereafter, would need to sustain the zone to establish conviction and clarity to anticipate for further rise in the coming days. As of now, the crucial and major support would be Rs 23, which needs to be sustained."
Ravi Singh, Chief Research Officer at Mastertrust, advised taking an exit on any bounce near Rs 30 in the near term.
Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, stated, "On the lower end, Rs 23-22 seems a crucial juncture, while any breakdown could disrupt the price action going forward. Conversely, multiple resistance levels are identified within the range of Rs 28-30 and Rs 35-subzone from a short-term perspective."
Shares of Ola Electric Mobility Ltd extended their gains for the second consecutive session on Thursday. The stock surged 9.33 per cent to settle at Rs 28.35. However, despite the recent recovery, the counter remains down 47.47 per cent over the past six months.
On the operational front, the pure-play EV company announced a significant price reduction for its flagship electric motorcycle, the Roadster X+ 9.1 kWh, powered by its indigenously developed 4680 Bharat Cell. The firm slashed the price by Rs 60,000, bringing it down to Rs 1,29,999 from Rs 1,89,999. The company attributed the price cut to improved cost efficiencies driven by economies of scale at its Gigafactory and deep vertical integration of battery cell production. The Roadster 9.1 kWh will be available in limited units during specific purchase windows.
Earlier, Ola Electric highlighted a rebound in business performance, noting that daily orders crossed 1,000 units in the last week of March 2026. Registrations rose to 10,117 units in March, as per VAHAN data, compared with 3,973 units in February, marking over 150 per cent month-on-month growth and indicating a sharp pickup in demand momentum. The company also said its market share witnessed a V-shaped recovery on a monthly basis.
From a technical standpoint, analysts see key support in the Rs 23–22 zone, while resistance is expected around Rs 32–35 levels. With that being said, one of them suggested exiting on any bounce towards Rs 30 level from a short-term perspective.
Shiju Koothupalakkal, Technical Research Analyst at Prabhudas Lilladher (PL), said, "The stock recently after crashing heavily from the Rs 70 zone has found some stability near Rs 23 level with consolidation happening and currently has indicated a revival to reach the important 50EMA level placed at Rs 28. One can expect the upward move till Rs 32-33 level and thereafter, would need to sustain the zone to establish conviction and clarity to anticipate for further rise in the coming days. As of now, the crucial and major support would be Rs 23, which needs to be sustained."
Ravi Singh, Chief Research Officer at Mastertrust, advised taking an exit on any bounce near Rs 30 in the near term.
Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, stated, "On the lower end, Rs 23-22 seems a crucial juncture, while any breakdown could disrupt the price action going forward. Conversely, multiple resistance levels are identified within the range of Rs 28-30 and Rs 35-subzone from a short-term perspective."