Technical Momentum and Price Action
As of 17 Feb 2026, Bhagiradha Chemicals’ stock closed at ₹208.30, down 1.91% from the previous close of ₹212.35. The intraday range was relatively narrow, with a high of ₹210.50 and a low of ₹206.70, indicating subdued volatility. The stock remains closer to its 52-week low of ₹198.05 than its 52-week high of ₹329.95, underscoring the pressure it has faced over the past year.
The technical trend has shifted from mildly bearish to outright bearish, reflecting a growing negative sentiment among traders and investors. Daily moving averages are firmly bearish, signalling that short-term price momentum is weakening. This is compounded by the weekly and monthly Bollinger Bands, both indicating bearish conditions, which suggests that the stock is trading near the lower band and may continue to face downward pressure.
MACD and RSI Signals
The Moving Average Convergence Divergence (MACD) indicator presents a mixed picture. On a weekly basis, the MACD remains mildly bullish, hinting at some underlying positive momentum in the short term. However, the monthly MACD is mildly bearish, indicating that the longer-term trend is weakening. This divergence between weekly and monthly MACD readings suggests that while short-term traders might find some buying opportunities, the broader trend remains unfavourable.
The Relative Strength Index (RSI) on both weekly and monthly charts currently shows no clear signal, hovering in neutral territory. This lack of momentum in RSI suggests that the stock is neither overbought nor oversold, but combined with other bearish indicators, it points to a cautious outlook.
Additional Technical Indicators
The Know Sure Thing (KST) indicator, which helps identify major price cycles, is bearish on a weekly basis and mildly bearish monthly, reinforcing the negative momentum. Meanwhile, the On-Balance Volume (OBV) indicator shows no clear trend weekly but is mildly bullish monthly, indicating that volume flows have not decisively confirmed the price weakness yet.
Dow Theory assessments add further nuance: weekly readings are mildly bullish, suggesting some short-term optimism, but monthly readings are mildly bearish, aligning with the longer-term downtrend.
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Comparative Performance and Market Context
Bhagiradha Chemicals’ recent price performance has lagged behind the broader market benchmark, the Sensex. Over the past week, the stock declined by 10.43%, significantly underperforming the Sensex’s modest 0.94% drop. The one-month return shows a similar pattern, with the stock down 6.40% compared to the Sensex’s 0.35% fall. Year-to-date, Bhagiradha Chemicals has lost 5.36%, while the Sensex has declined 2.28%.
Over a longer horizon, the stock’s underperformance is more pronounced. The one-year return for Bhagiradha Chemicals is a steep negative 30.33%, contrasting sharply with the Sensex’s 9.66% gain. However, the company’s three-year, five-year, and ten-year returns remain impressive, at 102.85%, 478.61%, and 1989.27% respectively, far outpacing the Sensex’s 35.81%, 59.83%, and 259.08% returns over the same periods. This highlights the stock’s strong historical growth despite recent setbacks.
Mojo Score and Ratings Update
MarketsMOJO’s latest assessment downgraded Bhagiradha Chemicals & Industries Ltd from a ‘Sell’ to a ‘Strong Sell’ rating on 5 Aug 2025, reflecting the deteriorating technical and fundamental outlook. The Mojo Score currently stands at a low 21.0, signalling significant caution for investors. The Market Cap Grade is 3, indicating a mid-tier market capitalisation but not enough to offset the negative momentum.
The downgrade reflects concerns over the company’s weakening price momentum, bearish technical indicators, and underwhelming recent returns relative to the broader market and sector peers.
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Outlook and Investor Considerations
Given the current technical landscape, investors should approach Bhagiradha Chemicals with caution. The bearish daily moving averages and monthly Bollinger Bands suggest that the stock may continue to face downward pressure in the near term. The mixed signals from MACD and Dow Theory indicators imply that short-term rallies could occur, but the dominant trend remains negative.
Investors should also weigh the company’s strong long-term returns against its recent underperformance and technical deterioration. The stock’s proximity to its 52-week low and the downgrade to a ‘Strong Sell’ rating highlight the risks involved. Those holding the stock may consider monitoring technical signals closely for signs of a sustained reversal before increasing exposure.
Sector-wise, the Pesticides & Agrochemicals industry continues to face challenges from regulatory changes and commodity price volatility, which could further impact Bhagiradha Chemicals’ performance. Comparative analysis with peers, as facilitated by tools like SwitchER, may help investors identify more resilient or better-valued alternatives within the sector.
Summary
Bhagiradha Chemicals & Industries Ltd is currently navigating a challenging technical environment marked by bearish momentum and a downgrade in market sentiment. While the stock’s long-term growth story remains intact, recent price action and technical indicators caution against aggressive positioning. Investors should remain vigilant, balancing the company’s historical strengths against the prevailing negative signals and sector headwinds.
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