Bajaj Electricals Ltd Technical Momentum Shifts Amid Mixed Market Signals

Technical Trend Overview and Price Movement

The stock closed at ₹480.45 on 6 Jan 2026, a slight increase of 0.09% from the previous close of ₹480.00. Intraday volatility remained contained, with a high of ₹481.70 and a low of ₹474.60. However, the 52-week range remains wide, with a high of ₹824.70 and a low of ₹458.00, underscoring significant price erosion over the past year.

Technically, the overall trend has softened from bearish to mildly bearish, reflecting a tentative attempt at stabilisation rather than a clear reversal. The daily moving averages continue to exert downward pressure, reinforcing the prevailing negative momentum in the short term.

MACD and Momentum Indicators Signal Mixed Sentiment

The Moving Average Convergence Divergence (MACD) indicator presents a nuanced picture. On a weekly basis, the MACD is mildly bullish, suggesting some underlying positive momentum building over the medium term. Conversely, the monthly MACD remains bearish, indicating that the longer-term trend is still dominated by selling pressure.

This divergence between weekly and monthly MACD readings highlights the stock’s struggle to break free from its prolonged downtrend, with short-term gains offset by persistent longer-term weakness.

RSI and Bollinger Bands Reflect Neutral to Bearish Bias

The Relative Strength Index (RSI) on both weekly and monthly charts currently shows no definitive signal, hovering in neutral territory. This suggests that the stock is neither overbought nor oversold, leaving room for either a recovery or further decline depending on upcoming market catalysts.

Bollinger Bands on weekly and monthly timeframes are mildly bearish, indicating that price volatility remains skewed towards the downside. The stock price is closer to the lower band, which often signals potential support but also reflects ongoing selling pressure.

Moving Averages and KST Indicator Confirm Cautious Outlook

Daily moving averages remain bearish, with the stock trading below key averages such as the 50-day and 200-day moving averages. This technical positioning typically signals that the stock is in a downtrend and may face resistance on any upward attempts.

The Know Sure Thing (KST) indicator offers a split view: mildly bullish on the weekly chart but bearish on the monthly chart. This again points to short-term momentum improvements that have yet to translate into sustained long-term strength.

Volume and On-Balance Volume (OBV) Trends

On-Balance Volume (OBV) analysis shows no clear trend on the weekly chart, while the monthly OBV is mildly bearish. This suggests that volume flows have not decisively supported a bullish reversal, with selling pressure still evident over the longer term.

Volume patterns are critical in confirming price moves, and the lack of strong volume support for recent price gains indicates that investor conviction remains low.

Dow Theory and Broader Market Context

According to Dow Theory, there is no established trend on either the weekly or monthly charts for Bajaj Electricals Ltd. This absence of a clear directional trend further emphasises the stock’s current indecision and the need for a catalyst to drive a sustained move.

Comparing Bajaj Electricals’ returns with the Sensex reveals a stark contrast. Over the past year, Bajaj Electricals has declined by 39.43%, while the Sensex has gained 7.85%. Over three and five years, the stock has underperformed dramatically, with losses of 58.28% and 22.68% respectively, against Sensex gains of 41.57% and 76.39%. Even over a decade, the stock’s 134.14% return trails the Sensex’s 234.01% growth, highlighting persistent underperformance.

Mojo Score and Ratings Update

MarketsMOJO has downgraded Bajaj Electricals Ltd from a 'Sell' to a 'Strong Sell' rating as of 22 Sep 2025, reflecting deteriorating fundamentals and technical outlook. The Mojo Score stands at a low 28.0, with a Market Cap Grade of 3, signalling limited market capitalisation strength relative to peers.

This downgrade aligns with the technical indicators and price action, reinforcing a cautious stance for investors considering exposure to this stock.

Investor Takeaway and Outlook

While Bajaj Electricals Ltd shows some signs of short-term momentum improvement, the overall technical landscape remains cautious to bearish. The mixed signals from MACD and KST indicators, combined with bearish moving averages and subdued volume support, suggest that any rally attempts may face resistance.

Investors should weigh the stock’s persistent underperformance against the Sensex and sector peers before committing capital. The downgrade to a 'Strong Sell' rating by MarketsMOJO further underscores the need for prudence.

For those holding the stock, monitoring key support levels near ₹458.00 and resistance around ₹525-₹550 will be critical in assessing potential trend reversals. New investors may prefer to explore alternatives with stronger technical and fundamental profiles.

Summary of Key Technical Metrics:

• Current Price: ₹480.45


• 52-Week High/Low: ₹824.70 / ₹458.00


• MACD: Weekly Mildly Bullish, Monthly Bearish


• RSI: Neutral on Weekly and Monthly


• Bollinger Bands: Mildly Bearish on Weekly and Monthly


• Moving Averages: Daily Bearish


• KST: Weekly Mildly Bullish, Monthly Bearish


• OBV: Weekly No Trend, Monthly Mildly Bearish


• Dow Theory: No Trend on Weekly and Monthly


• Mojo Score: 28.0 (Strong Sell)


• Market Cap Grade: 3

In conclusion, Bajaj Electricals Ltd remains under technical pressure despite some tentative signs of momentum improvement. Investors should remain vigilant and consider the broader market context and alternative investment opportunities.

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