Ola Electric shares climb on 'strong' March business performance; how strong is this upside?

Shares of Ola Electric Mobility Ltd rose 13.50 per cent in Wednesday's trading session to hit a high of Rs 25.90. The stock was last seen trading 12.62 per cent higher at Rs 25.70. Despite the recent rebound, the counter has cracked 54.03 per cent over the past six months.

The pure-play electric vehicle (EV) firm said it recorded "a strong comeback in business performance with daily orders crossing 1,000 units in the last week of March 2026 and registrations rising to 10,117 units during the month (as per VAHAN), up from 3,973 units in February, translating to over 150 per cent M-o-M (month-on-month) growth signaling a sharp resurgence in demand momentum."

The company also mentioned that its "market share also witnessed a V-shaped M-o-M recovery."

"This demand recovery is being driven by a structural transformation in service operations. Over 80 per cent of vehicles are now serviced on the same day, enabled by improved parts availability, faster diagnostics, and tighter operational control across the network. Following a period of service challenges in recent months, the company has implemented deep operational changes, resulting in significantly improved turnaround times and customer experience, strengthening customer trust and driving demand," Ola Electric also said.

From a technical standpoint, analysts largely indicated that near-term resistance is seen in the Rs 26.01–28 zone, while immediate support is placed around Rs 23–22. And, a decisive move above the Rs 33–35 range is seen as crucial for a trend reversal.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, stated, "The stock has experienced a significant decline. 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."

Kunal Kamble, Senior Technical Research Analyst at Bonanza, noted, "Any pullback towards Rs 28–33 may face selling pressure. A decisive breakout above Rs 33–35 is required for trend reversal. Otherwise, the broader bias remains weak with downside risk intact."

AR Ramachandran, a Sebi-registered research analyst at Tips2trades, said Rs 26.1 could be seen as the next immediate resistance level. "A daily close below support of Rs 22.25 could lead to a drop towards Rs 20.8 in the near term," he added.