Ola Electric shares tumble nearly 29% in a month; what should investors do now?

Shares of Ola Electric Mobility Ltd were trading 1.66 per cent lower at Rs 31.33 in Tuesday's trade. At this level, the stock has corrected 28.67 per cent over the last one month.

Ola Electric recently said it has commenced deliveries of its Ola Shakti 9.1kWh residential Battery Energy Storage System (BESS), which uses 4680 Bharat Cells. The company noted that the product is available in two variants: a 3kW/5.2kWh system priced at Rs 1,49,999, and a 6kW/9.1kWh system priced at Rs 2,49,999.

Meanwhile, Choice Institutional Equities pointed out that the pure-play EV company's volumes fell sharply by 70.4 per cent year-on-year in January 2026, as competition from established players intensified.

Technically, some analysts largely remained 'bearish' on Ola Electric, with support seen in the Rs 30-25.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said, "The stock has experienced a significant decline. The indicators are consistent with this price movement, implying potential further decline to the range of Rs 26-25 in the forthcoming period. Conversely, multiple resistance levels are identified within the range of Rs 35-38, followed by a robust resistance zone between Rs 40-42."

Drumil Vithlani, Technical Analyst at Bonanza, noted, "Ola Electric continues to trade in a strong downtrend on weekly charts. Every pullback toward the Rs 70–90 zone has faced supply, confirming it as a major distribution area. Price is now drifting near Rs 30, a psychological level but not yet a proven structural base. Unless the stock reclaims Rs 45–50 and sustains above it, upmoves are likely to be short-lived pullbacks within a broader bearish structure. A breakdown below Rs 30 can extend the fall toward Rs 24–26. Overall, the trend remains negative; only base building and higher-low formation can shift bias."

Ravi Singh, Chief Research Officer at Mastertrust, advised that one should consider exiting the stock as it may slip towards Rs 28, adding that Rs 35 would act as immediate resistance.