Recent Price Movement and Market Context
On 2 February 2026, APSEZ closed at ₹1,339.20, down 5.53% from the previous close of ₹1,417.65. The intraday range was broad, with a high of ₹1,453.20 and a low of ₹1,325.40, reflecting heightened volatility. This decline contrasts with the stock’s 52-week high of ₹1,548.60 and low of ₹1,036.35, indicating that while the stock remains well above its annual lows, it is currently under pressure near the upper end of its trading range.
Comparatively, the Sensex has shown a more muted performance over recent periods. APSEZ outperformed the benchmark over the past week with a 2.42% gain versus Sensex’s 1.00% loss. However, over the one-month and year-to-date periods, APSEZ has underperformed, declining 8.34% and 8.87% respectively, compared to Sensex’s losses of 4.67% and 5.28%. Over longer horizons, the stock has delivered robust returns, with a 24.37% gain over one year and an impressive 529.62% over ten years, significantly outpacing the Sensex’s 5.16% and 224.57% returns for the same periods.
Technical Indicator Analysis: Mixed Signals
The technical landscape for APSEZ is characterised by a blend of bearish and neutral signals, suggesting a phase of consolidation rather than a clear directional trend. The weekly and monthly Moving Average Convergence Divergence (MACD) indicators remain mildly bearish, signalling that momentum is waning on a medium to longer-term basis. This is corroborated by the Bollinger Bands, which are bearish on both weekly and monthly charts, indicating increased volatility and a potential for downward price pressure.
Conversely, the daily moving averages present a mildly bullish outlook, implying that short-term price action retains some upward bias. This divergence between daily and longer-term indicators suggests that while immediate price movements may offer buying opportunities, investors should exercise caution given the broader sideways momentum.
The Relative Strength Index (RSI) on weekly and monthly timeframes currently shows no definitive signal, hovering in neutral territory. This lack of momentum confirmation aligns with the sideways trend noted in the technical summary. Similarly, the Know Sure Thing (KST) oscillator is mildly bearish on weekly and monthly charts, reinforcing the view of subdued momentum.
Other volume-based indicators such as On-Balance Volume (OBV) show no clear trend on weekly or monthly scales, indicating that volume is not decisively supporting either buying or selling pressure at present. Dow Theory analysis offers a mildly bullish weekly signal but no discernible trend monthly, further highlighting the mixed technical environment.
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Mojo Score and Rating Upgrade
MarketsMOJO’s proprietary scoring system currently assigns APSEZ a Mojo Score of 57.0, reflecting a Hold rating. This represents an upgrade from the previous Sell rating as of 28 January 2026, signalling a modest improvement in the stock’s technical and fundamental outlook. The Market Cap Grade remains at 1, indicating the company’s large-cap status but also suggesting limited upside potential relative to smaller, more volatile peers.
Investors should note that the Hold rating aligns with the technical indicators’ mixed signals, suggesting that while the stock is not currently a strong buy, it is also not positioned for significant downside in the near term. The sideways momentum and mild bearishness on key oscillators imply a wait-and-watch approach may be prudent until clearer directional cues emerge.
Long-Term Performance and Sector Context
APSEZ operates within the transport infrastructure sector, a critical component of India’s economic growth story. The company’s long-term returns have been impressive, with a 5-year gain of 162.85% and a 3-year gain of 124.38%, both substantially outperforming the Sensex’s respective 74.40% and 35.67% returns. This outperformance underscores the company’s strong market position and operational execution over time.
However, the recent technical shift to sideways momentum may reflect broader sectoral pressures, including regulatory challenges, commodity price fluctuations, and global trade uncertainties. Investors should consider these macro factors alongside technical signals when evaluating APSEZ’s near-term prospects.
Key Technical Levels to Watch
From a price perspective, the stock’s immediate support lies near ₹1,325, close to the day’s low on 2 February 2026. Resistance is evident near ₹1,453, the day’s high and a level that capped recent rallies. A sustained break above this resistance could reinstate a bullish trend, while a drop below support may signal further downside risk.
Moving averages on the daily chart, which remain mildly bullish, currently hover around ₹1,340 to ₹1,350, providing dynamic support. Traders should monitor these levels closely for signs of trend continuation or reversal.
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Investor Takeaway
Adani Ports & Special Economic Zone Ltd’s recent technical parameter changes highlight a transition from a mildly bullish phase to a more cautious sideways trend. While short-term moving averages suggest some buying interest, the broader weekly and monthly indicators caution investors about potential volatility and lack of clear momentum.
Given the stock’s strong historical performance and upgraded Mojo rating, long-term investors may view current weakness as a consolidation phase within a broader uptrend. However, traders and short-term investors should remain vigilant for confirmation of trend direction, particularly watching key support and resistance levels and volume patterns.
Ultimately, APSEZ’s technical profile suggests a balanced approach, favouring selective accumulation with risk management in place until more decisive signals emerge from the technical indicators.
Summary of Technical Ratings
- MACD: Weekly and Monthly - Mildly Bearish
- RSI: Weekly and Monthly - Neutral (No Signal)
- Bollinger Bands: Weekly and Monthly - Bearish
- Moving Averages: Daily - Mildly Bullish
- KST: Weekly and Monthly - Mildly Bearish
- Dow Theory: Weekly - Mildly Bullish; Monthly - No Trend
- OBV: Weekly and Monthly - No Trend
These mixed signals underscore the importance of a measured investment approach, balancing the stock’s long-term strengths with short-term technical caution.
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