OLAELEC - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 19 Sept 25, 2:16 pm

Technical Rating: 3.8

Here’s a detailed technical analysis of Ola Electric Mobility Ltd (OLAELEC)

📊 Trend Overview

Current Trend: Mildly bullish

Phase: Recovering from prior lows

Bias: Neutral to positive, with improving momentum but resistance overhead

📈 Technical Indicators Analysis

🔹 Moving Averages

50 DMA: ₹51.7

200 DMA: ₹58.3

Current Price: ₹57.7

Price is above 50 DMA but slightly below 200 DMA → signals short-term strength, medium-term caution

50 DMA rising, 200 DMA flattening → early signs of trend reversal

🔹 RSI (Relative Strength Index)

RSI: 55.6

Neutral to bullish zone

Indicates improving buying interest with room for upside

🔹 MACD (Moving Average Convergence Divergence)

MACD: 3.29

Positive MACD → confirms bullish crossover

Histogram expanding → momentum building

🔹 Bollinger Bands

Price near upper band → bullish zone

Bands widening → increasing volatility

Suggests continuation if volume supports the move

🔹 Volume Trends

Current Volume: 2.27 crore

1-Week Avg Volume: 3.13 crore

Volume below average → mild consolidation

Needs volume surge to confirm breakout above ₹60

📌 Support & Resistance Levels

Level Price (₹) Commentary

Support 1 54.0 Minor pullback zone

Support 2 51.7 50 DMA, strong base

Resistance 1 58.3 200 DMA, immediate ceiling

Resistance 2 65.0 Intermediate resistance

Resistance 3 75.0 Trend reversal confirmation zone

🎯 Entry & Exit Zones

Optimal Entry Zone: ₹54–₹56 (on pullback near support)

Exit Zone / Profit Booking: ₹65–₹75 (resistance and breakout target)

🔍 Momentum Signals

Short-Term: Bullish momentum building, MACD and RSI support upside

Medium-Term: Reversal possible if price sustains above ₹58.3

Volume: Needs improvement for sustained breakout

🧭 Conclusion

OLAELEC is currently recovering with early bullish signals. Price action above the 50 DMA, a positive MACD crossover, and strengthening RSI suggest upside potential. Traders may consider entering near ₹54 with targets around ₹65–₹75, while watching for volume confirmation and a decisive move above the 200 DMA.

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