India’s electric vehicle (EV) market is picking up gradually from last few years. We can see, as per the Vahan Dashboard that there has been a month-on-month rise in the registration of EVs, with 1,88,804 in July 2025 compared to 1,81,573 in June 2025.
As the festival season has arrived, the demand for auto sector will get a leg up, especially for EVs.
As per positive volume and momentum indicators, Ola Electric is showing a reversal from its all-time low level from the market’s perspective. Technical charts show Uno Minda’s firmly rooted strength and room for further growth, which reflects the stock’s underlying strength.
Ola Electric: A Phoenix Rising from an All-Time Low?
Since it listed in 2024, Ola Electric has been a laggard. Having fallen from ₹157 in August 2024, the stock fell by 74%, hitting an all-time low by July 2025. However, the stock has now developed a higher top, higher bottom pattern, which signifies a turnaround.
The stock is now trading above its 100-day moving average (100DMA), which is a shift to an uptrend. The Relative Strength Index (RSI) is also in positive territory, demonstrating bullish divergence, which augurs well for further upside.
Key Signs Indicating Ola Electric’s Potential Reversal
- Multiple Bullish pattern: Ola Electric has given a breakout i.e. double bottom pattern and falling wedge near at its all-time low.
- 100-Day Moving Average: After the listing, first time the stock price trading above its 100DMA indicates that the stock traditionally into upward trend.
- Breakout with Volume: We can see at time of breaking out previous resistance volumes are picking up a standard sign of bullish reversal.
- Increasing RSI Momentum: The RSI is in the neutral zone from overbought zone with bullish range shift.
Uno Minda: Breaking Out into a Fresh Bull Run
Uno Minda generated 107% return from March 2024 to September 2024 (from ₹604 to ₹1,255). The stock price was into consolidated between ₹800 to ₹1,200, broke out recently and reached an all-time high . It has since provided 65% returns in four months. The stock is currently trading above its all-time high, the RSI still in the bullish territory, supporting further strength and potential upside.
Key Technical Levels Favouring Uno Mina’s Reversal
- All-time high breakout: The stock broke out from previous all-time high and it has now started fresh Bull Run.
- Volume Surge Confirming the Breakout: The price surge has been accompanied by increased volume, which indicates strong market participation. Furthermore, the current low-volume consolidation and modest price decline suggest that the breakout is likely to continue.
- RSI and Price Direction: The 14-period RSI is over 60 and remain into bullish zone, confirming that the stock has strong upward momentum.
Two Different Roads to Potential Gains
In India’s electric vehicle sector is getting traction and stocks like Ola Electric and Uno Minda are showing positive technical setups even though general market uncertainty is present.
While developments related to US tariffs will introduce some volatility, these stocks are well-placed to ride good fundamentals and strong demand. Both stocks have bullish chart patterns, rising RSI momentum, and key breakouts, all of which are signs of price appreciation potential. One can closely monitor these stocks because they are having good setups.
Note: The purpose of this article is only to share interesting charts, data points and thought-provoking opinions. It is NOT a recommendation. If you wish to consider an investment, you are strongly advised to consult your advisor. This article is strictly for educative purposes only.
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Disclaimer:
Kiran Jani has over 15 years of experience as a trader and technical analyst in India’s financial markets. He is a well-known face on the business channels as Market Experts and has worked with Asit C Mehta, Kotak Commodities, and Axis Securities. Presently, he is Head of the Technical and Derivative Research Desk at Jainam Broking Limited.
Disclosure: The writer and his dependents do not hold the stocks discussed here. However, clients of Jainam Broking Limited may or may not own these securities.
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