Why is Ola Electric share price skyrocketing in FY27? Explained
Ola Electric share price has skyrocketed from ₹23.92 apiece to ₹40.40 per share on the NSE, logging around 70% rise in one month
Shares of Ola Electric Mobility have been in an uptrend since the start of the new financial year. In FY27, Ola Electric's share price has surged from ₹22.80 per share on the NSE to ₹40.40 per share on Friday, logging anearly 77% rise in the new financial year.
According to market experts, the rally in Ola Electric's share price is driven by rising EV sales and improving sentiment toward EVs. They said 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.
What's fueling Ola Electric share price rally?
Speaking on the reasons fueling Ola Electric's shares, Aakash Shah, Research Analyst at Choice International, said, “The rally is driven by improving EV sales, positive updates on battery and Gigafactory developments, positive EV sector sentiment and strong investor sentiment.”
The Choice International expert said that Ola Electric share is currently trading near ₹40.88 and is now approaching its 200-day EMA, which may act as a key resistance zone.
Technically, the stock has broken above its 20-, 50-, and 100-EMA levels, suggesting a potential trend reversal after a prolonged downtrend. RSI is in the overbought zone, suggesting strong momentum but also a chance of short-term consolidation.
Ola Electric share price target
“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,” Aakash Shah of Choice International said.
Expecting the bull trend to continue further, Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi, said Ola Electric share is currently trading around ₹40, with a fresh trendline breakout 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.
About the Author
Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records. <br><br> While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat. <br><br> Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities. <br><br> Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91).
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