Ola Electric share price soars over 6%; shares cross 200 EMA and almost double from 52-week low; here is why Ola Electric’s shares surged over 6% in Monday’s trading session, hitting an intraday high of ₹41.3 per share on the National Stock Exchange. The rally follows the company’s announcement of bookings opening for its new product, the S1Z. The stock has nearly doubled from its 52-week low of ₹22.2 per share, which was recorded on March 16, 2026. However, the shares remain down 25% year-to-date, reflecting broader market challenges. Technical analysis highlights the stock’s momentum, with the shares crossing the crucial 200-day Exponential Moving Average (EMA) at ₹40.2 per share for the second time in August. On daily charts, the stock has shown strong support near ₹35 per share, bouncing back from these levels for the third time in four months. This pattern suggests growing buying interest at lower price points, with charts indicating a breakout of the trendline resistance formed by higher highs. The rally comes amid renewed institutional interest in the stock. After a prolonged period of subdued performance following a service and after-sales support issue, institutional investors have increasingly entered the market at lower levels, seeking undervalued opportunities. Despite the recent rebound, the shares remain 75% below their record high levels. Domestic institutional ownership has risen steadily, increasing from 2.93% in Q4FY25 to 12.16% in Q1FY27. Foreign institutional investors (FIIs) also expanded their holdings, rising from 2.8% in Q4FY25 to 4.11% in Q1FY27. Meanwhile, promoter and public shareholding has declined during the same period. However, the company’s market position has weakened.#national_stock_exchange #tamil_nadu #ola_electric #bharat_cell_lfp #battery_innovation_centre
