Alpex Solar Ltd Falls 7.46%: 3 Key Technical Signals Driving the Weekly Decline

5 January 2026: Weak Start Amid Broader Market Decline

Alpex Solar Ltd began the week on a weak note, closing at ₹797.10, down 3.42% from the previous Friday’s close of ₹825.30. This decline was sharper than the Sensex’s 0.18% fall to 37,730.95, signalling early pressure on the stock. The volume of 31,900 shares indicated moderate trading interest as investors reacted to emerging technical signals and broader market softness.

6 January 2026: Technical Momentum Shifts to Mildly Bearish

The stock continued its downward trend, closing at ₹773.30, a further 2.99% decline. This day marked a pivotal shift in Alpex Solar’s technical momentum from mildly bullish to mildly bearish. Key indicators such as the weekly MACD turned bearish, and Bollinger Bands suggested increased volatility with a downside bias. Despite the fundamental mojo score improving to 72.0 and a “Buy” grade, the technical signals dominated market sentiment, contributing to the stock’s underperformance relative to the Sensex, which fell 0.19% to 37,657.70.

7 January 2026: Death Cross Formation Signals Bearish Trend

On 7 January, Alpex Solar closed at ₹784.35, a modest 1.43% gain from the previous day’s close, but this short-term uptick masked a significant technical development: the formation of a Death Cross. The 50-day moving average crossed below the 200-day moving average, a widely recognised bearish signal indicating weakening medium- to long-term momentum. This event heightened concerns about the stock’s outlook, especially given its underperformance over the past year and the sector’s elevated P/E ratio of 62.91 compared to Alpex Solar’s 24.66.

The Sensex edged up 0.03% to 37,669.63, contrasting with the stock’s technical deterioration. The Death Cross was supported by bearish weekly MACD and KST indicators, reinforcing the negative momentum despite the intraday price gain.

8 January 2026: Bearish Momentum Intensifies Despite Intraday Gains

Alpex Solar’s price closed slightly lower at ₹781.20, down 0.40% from the previous close, after trading between ₹745.00 and ₹800.00. Technical indicators confirmed a shift from mildly bearish to outright bearish momentum. Daily moving averages turned firmly bearish, with the stock trading below key averages such as the 50-day and 200-day lines. Bollinger Bands on weekly and monthly charts also signalled increased volatility and downward pressure.

Despite a neutral RSI and inconclusive monthly MACD, the Know Sure Thing (KST) indicator on the weekly chart confirmed bearish momentum. Dow Theory assessments labelled the trend as mildly bearish, while On-Balance Volume (OBV) showed no clear volume confirmation. The Sensex declined sharply by 1.41% to 37,137.33, reflecting broader market weakness that compounded the stock’s challenges.

9 January 2026: Week Ends on a Weak Note

The week concluded with Alpex Solar closing at ₹763.75, down 2.23% on the day and marking the lowest close of the week. This final decline extended the stock’s weekly loss to 7.46%, a significantly steeper drop than the Sensex’s 2.62% fall to 36,807.62. The volume of 50,700 shares suggested sustained selling pressure as technical indicators remained bearish and investor caution persisted.

The stock’s underperformance over the week and the formation of bearish technical patterns underscore the challenges facing Alpex Solar in the near term. The Mojo Score downgrade to 57.0 and a Hold rating reflect this cautious stance, signalling that the stock currently lacks the momentum to reverse its downward trend.

Key Takeaways

Bearish Technical Signals Dominate: The formation of a Death Cross on 7 January and bearish weekly MACD and Bollinger Bands indicate weakening momentum and increased downside risk for Alpex Solar Ltd.

Underperformance vs Sensex: The stock’s 7.46% weekly decline significantly outpaced the Sensex’s 2.62% fall, highlighting relative weakness amid broader market volatility.

Mojo Score Downgrade: The downgrade from Buy to Hold with a score of 57.0 reflects the deteriorating technical outlook and cautious investor sentiment.

Volume and Trend Confirmation: Neutral On-Balance Volume and Dow Theory assessments suggest no strong volume confirmation, complicating the trend’s clarity but overall favouring caution.

Fundamental Context: Despite a lower P/E ratio than the sector average, the stock’s persistent underperformance over multiple time frames and small-cap status contribute to its vulnerability.

Conclusion

Alpex Solar Ltd’s week was characterised by a clear shift towards bearish technical territory, culminating in a 7.46% price decline and a Hold rating downgrade. The Death Cross formation and weakening momentum indicators signal caution for investors, as the stock struggles to find support amid broader market pressures. While fundamental metrics offer some valuation appeal, the prevailing technical signals suggest that downside risks remain significant in the near term. Monitoring key support levels and any reversal in momentum indicators will be crucial for assessing future prospects.

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