⚡ Ola Electric: First Signs of Life After Prolonged Downtrend?

1️⃣ Structure & Trend Persistent falling channel since listing with lower highs and lower lows. Price bounced near dashed lower boundary, hinting at a potential reversal zone. Major overhead supply levels at ₹48.10 and ₹58.04. 2️⃣ Momentum Shift Today's large bullish candle (+7%) broke short-term structure. RSI bullish divergence confirmed — RSI made higher lows while price made new lows. Volume and strength indicators point toward short-covering or fresh accumulation. 3️⃣ Key Levels to Watch Immediate resistance: ₹45.00 Strong hurdle: ₹48.10 Support zone: ₹39.70 Sustained close above ₹45 could trigger short-term rally toward ₹48–50. 4️⃣ Trading Outlook Aggressive traders may consider this a reversal signal with tight stop. Safer approach: Wait for confirmation above ₹45 with volume. As always, respect the structure; stock still under longer-term downtrend. 📢 Disclaimer: This is for informational purposes only. Nothing herein constitutes a buy or sell recommendation. 🧑‍💼 Rajneesh Sharma is a SEBI-registered Research Analyst (Reg. No. INH000020332). 📄 Investments are subject to market risks. Read all related documents carefully before investing.