Ola Electric shares jump 31% in 6 months. Should you buy, sell or hold?

Ola Electric shares gained around 10% in a week but fell over 2% in a month, trading at around Rs 41 apiece. The EV-scooter maker’s shares recorded sharp gains earlier this week after the company signed a memorandum of understanding (MoU) with Axis Energy to deploy up to 20 GWh of battery energy storage systems (BESS) by 2032.

Despite the recent gains, the shares of Bhavish Aggarwal’s company remain in the deep red for its IPO investors. After a flat market debut in August 2024, Ola shares rallied sharply to hit a lifetime high of Rs 157.40 apiece later that year. However, the momentum reversed dramatically, with the stock falling to a lifetime low in March 2026, nearly one-seventh of its peak value.

Overall, Ola Electric shares have gained 10% in 2026 so far, as strong sales data, PLI certification and other factors boosted investor confidence in the EV scooter-maker. The stock has nearly doubled after hitting a lifetime low of Rs 22.25 apiece in March this year. The company currently has a market capitalisation of more than Rs 19,175 crore.

What lies ahead for Ola Electric share price?

While Ola Electric shares remain significantly lower than its IPO levels, the stock has regained some momentum this year. Vinit Bolinjkar, Head of Research at Ventura, recommended a ‘Hold’ stance on Ola Electric, while noting that the near-term sentiment has improved, boosted by non-auto optionality like grid-scale Battery Energy Storage Systems (BESS) and aggressive cost rationalization.EV sector growth,” the analyst further said.

Also Read |Big shift: Ola Electric moves to dealership model amid market share wipeout

Technical view on Ola Electric share price

Ola Electric shares have remained in a persistent downtrend since their market debut, eroding nearly 70% of shareholder value, said Hitesh Rathi, Technical Analyst (Equity & Derivatives) at Angel One. He noted that the formation of a bullish 100% pole from the Rs 22–20 zone indicates the emergence of a strong long-term support band and highlights the presence of meaningful buying interest at those levels.That said, the recent recovery appears to be losing momentum, according to the analyst. The stock has failed to build on the follow-through buy generated after the bullish 100% pole and has instead established a strong short-term resistance in the Rs 45–47 zone, he noted, adding that this weakness is further reinforced by the formation of a follow-through sell, suggesting that sellers continue to dominate at higher levels.

"Overall, the technical setup does not inspire confidence at the current juncture. Until the stock is able to reclaim and sustain above the Rs 50 mark, thereby invalidating the prevailing short-term bearish structure; fresh investments should be avoided," Hitesh Rathi added.

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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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