Ola Electric shares jump 28% in 3 sessions: What drove the surge, key technical targets & near-term outlook

Shares of Ola Electric Mobility Ltd continued their upward movement for the third consecutive session on Monday. The stock climbed 2.96 per cent to settle at Rs 29.19. At this closing level, it has moved up 27.91 per cent in three trading days.

However, despite the recent recovery, the counter remains down 44.53 per cent over the past six months.

Why is the stock rising

On the operational front, the pure-play EV company has 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.

Technical view

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, stated, "The stock has experienced a mild recovery after hitting an all-time low amid persistent selling pressure. The indicators are consistent with this price movement, implying a modest reversal. On the lower end, Rs 24-22 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 30-32 and Rs 35-subzone from a short-term perspective."

According to AR Ramachandran, a Sebi-registered research analyst at Tips2trades, "Ola Electric's stock is bullish on daily charts with strong support at Rs 28.34. A daily close above the resistance of Rs 30.89 could lead to an upside target of Rs 33 in the near term."