Charging Up for Wave 3 — Ola’s Motor Just Got Certified!

The electric vehicle (EV) space in India is heating up again — and Ola Electric seems to be quietly positioning itself for the next leg of growth. The company’s recent government certification for its in-house ferrite motor marks an important milestone: a domestically designed motor that avoids costly rare-earth materials, potentially boosting margins and cutting import dependence.

This development strengthens Ola’s role in India’s push toward self-reliant, cost-efficient electric mobility, just as the market eyes the next growth phase in EV adoption.

Technically, the stock appears to be cooling off after its first strong impulse. The chart reveals a leading diagonal structure kicking off Wave 1, followed by a Wave 2 correction unfolding as a 5-3-5 zigzag inside a descending channel. Price now hovers near the 0.618 to 0.786 Fibonacci retracement zone (₹51–₹46) — historically a prime setup area before a potential Wave 3 expansion.

The RSI near 43 suggests downside momentum is fading, but the confirmation cue will be a break above 50, signaling a shift in control to buyers.

In short: fundamentals are recharging while the technical battery is nearly full. Accumulation makes sense only once either

• price dips toward ₹46–₹47 (deep retracement pocket), or
  
• A breakout from the descending channel confirms that Wave 3 is ready to drive the next rally.
  

For now, Ola’s story is less about “if” and more about “when.”

Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.