The stock of Ola Electric Mobility gained 60 per cent in April after bouncing off a strong base at ₹22. But since the beginning of May, it has largely stayed flat, oscillating between ₹34 and ₹38.
Nevertheless, the stock maintains a positive bias, and we expect it to see another leg of rally. The bulls will have an edge over the bears as long as the stock trades above the support at ₹34, where the 38.2 per cent Fibonacci retracement of the recent uptick coincides.
Once the uptrend resumes, the stock can rally to ₹50 over a few weeks. Therefore, traders can buy at ₹35 and place a stop-loss at ₹32.
When price touches ₹42 and ₹46, raise the stop-loss to ₹37 and ₹42 respectively. Book profits at ₹50.
Video Credit: Businessline
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
Published on May 18, 2026