Ola Electric Mobility Share Price Sees 65% Monthly Rally, Is Turnaround Complete?

Ola Electric Mobility Share Price Surges by 65% in Just One Month

Ola Electric Mobility share price has been on a continuous bull trend since the start of the new financial year 2026-27. The stock finished at ₹22.80 apiece on the National Stock Exchange (NSE) on the last trading session of FY26, which was on March 30, 2026. However, the current market price stands at ₹38.10 per share, indicating a staggering 65% rise in just this month.

This rally in Ola Electric Mobility shares has sparked debate among investors and analysts, with some questioning whether the worst is behind and whether the stock is ready for a re-rating. The stock had a dream run on Dalal Street after listing on August 9, 2024, but eventually came under the bears' radar, making it an ideal 'sell on rise' stock in the Indian stock market.

According to stock market experts, the rally in Ola Electric's share price is driven by rising electric vehicle (EV) sales and improving sentiment towards EVs. They believe that Ola Electric shares are on the cusp of giving a technical breakout at ₹46 apiece and can go up to the ₹60 per share mark after this technical breakout.

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Aakash Shah, Research Analyst at Choice International, highlighted the key drivers of Ola Electric's share price rally, including improving EV sales, positive updates on battery and Gigafactory developments, positive EV sector sentiment, and strong investor sentiment.

The stock has broken above its 20-, 50-, and 100-EMA levels, suggesting a potential trend reversal after a prolonged downtrend. However, the Relative Strength Index (RSI) is in the overbought zone, indicating strong momentum but also a chance of short-term consolidation. The stock is now approaching its 200-day EMA, which may act as a key resistance zone.

Aakash Shah of Choice International also provided a share price target for Ola Electric, stating that if the stock sustains above ₹42, it could move towards the ₹48 to ₹52 levels. On the downside, ₹36 is immediate support, while ₹32 remains a strong stop-loss zone.

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Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi, expects the bull trend to continue further, with Ola Electric Mobility share trading around ₹38. A fresh trendline breakout has been observed above the ₹30 level, indicating improving bullish momentum. In the near term, the stock is expected to move towards a target of ₹46.

A sustained breakout above ₹46 could further strengthen the uptrend, potentially leading to a channel breakout and opening up higher targets around ₹60. Investors may consider a 'buy on dips' strategy, maintaining a stop-loss at ₹30, while aiming for upside targets of ₹46 and ₹60 in the medium term, said Dongre of Anand Rathi.