Campus Activewear Ltd Sees Mixed Technical Signals Amid Price Momentum Shift

Price Momentum and Recent Market Performance

Campus Activewear’s current price of ₹269.60 marks a significant rebound from its previous close of ₹254.80, with the stock touching a high of ₹281.05 during the trading session. This represents an intraday gain of 5.81%, signalling short-term bullish momentum. However, the stock remains below its 52-week high of ₹314.95 and above its 52-week low of ₹215.00, indicating a wide trading range over the past year.

Comparing returns with the broader Sensex index highlights a mixed performance. Over the past week, Campus Activewear outperformed the Sensex with an 8.08% gain versus the index’s 0.16%. Over one month and year-to-date periods, the stock posted modest gains of 2.98%, while the Sensex declined by 4.78% and 4.17% respectively. However, the stock’s one-year return remains negative at -7.47%, contrasting with the Sensex’s positive 5.37% return. Longer-term returns over three years show a significant underperformance of -29.9% against the Sensex’s 36.26% gain, underscoring challenges in sustaining growth momentum.

Technical Trend Shift: From Bearish to Mildly Bearish

Technical analysis reveals a subtle shift in trend dynamics. The overall technical trend has moved from a strongly bearish stance to a mildly bearish one, reflecting a tentative improvement in market sentiment. This shift is supported by mixed signals from key indicators across daily, weekly, and monthly timeframes.

The Moving Averages on the daily chart remain mildly bearish, suggesting that while short-term price action shows some strength, the medium-term trend has yet to confirm a sustained uptrend. The stock price is currently trading near key moving average levels, which may act as resistance or support depending on forthcoming price action.

MACD and Momentum Indicators

The Moving Average Convergence Divergence (MACD) indicator presents a mixed outlook. On the weekly chart, the MACD remains bearish, indicating that the stock’s momentum is still under pressure in the medium term. Conversely, the monthly MACD has improved to a mildly bearish stance, suggesting that longer-term momentum is stabilising but not yet bullish.

The Relative Strength Index (RSI) offers no clear signal on both weekly and monthly timeframes, hovering in a neutral zone. This lack of directional bias implies that the stock is neither overbought nor oversold, leaving room for either a continuation of the current trend or a reversal depending on upcoming market catalysts.

Bollinger Bands and Volatility Assessment

Bollinger Bands provide further insight into volatility and price behaviour. On the weekly chart, the bands are bullish, reflecting recent price strength and potential for upward momentum. However, the monthly Bollinger Bands remain mildly bearish, indicating that volatility over the longer term is still subdued and price action is constrained within a lower range.

Other Technical Indicators: KST, Dow Theory, and OBV

The Know Sure Thing (KST) indicator remains bearish on both weekly and monthly charts, reinforcing the cautious stance on momentum. Dow Theory analysis shows a mildly bullish trend on the weekly timeframe but a mildly bearish trend monthly, highlighting the divergence between short-term optimism and longer-term caution.

On-Balance Volume (OBV) is mildly bearish weekly and shows no clear trend monthly, suggesting that volume flows are not strongly supporting the recent price gains. This volume pattern indicates that the rally may lack conviction from institutional investors, which could limit sustainability.

Mojo Score and Market Capitalisation Grade

Campus Activewear’s current Mojo Score stands at 48.0, reflecting a Sell rating, though this is an improvement from the previous Strong Sell grade assigned on 09 Jan 2026. The upgrade to Sell indicates a slight improvement in the stock’s technical and fundamental outlook, but caution remains warranted. The company’s Market Cap Grade is 3, signalling a mid-tier market capitalisation relative to peers in the footwear sector.

Sector and Industry Context

Operating within the footwear industry, Campus Activewear faces competitive pressures and evolving consumer trends. The sector has seen mixed performance recently, with some companies benefiting from increased discretionary spending while others grapple with supply chain disruptions and cost inflation. Campus Activewear’s technical signals suggest it is navigating these headwinds with some resilience but has yet to establish a clear breakout from its bearish tendencies.

Investor Takeaway and Outlook

Investors analysing Campus Activewear Ltd should weigh the recent price momentum against the mixed technical signals. The stock’s short-term strength, as evidenced by the 5.81% day gain and weekly bullish Bollinger Bands, is encouraging. However, the persistence of bearish MACD readings, mildly bearish moving averages, and subdued volume trends counsel caution.

Given the stock’s underperformance relative to the Sensex over one and three years, and the current Mojo Grade of Sell, investors may prefer to monitor for confirmation of a sustained trend reversal before increasing exposure. The absence of clear RSI signals and the divergence between weekly and monthly technical indicators suggest that volatility and uncertainty remain elevated.

For those with a higher risk tolerance, the current price level near ₹270 could offer an entry point, provided stop-loss levels are carefully managed. Conversely, more conservative investors might consider alternative stocks within the footwear sector or broader market that demonstrate stronger technical momentum and fundamental support.

Summary of Key Technical Metrics:

• Current Price: ₹269.60 (Previous Close: ₹254.80)
• 52-Week Range: ₹215.00 - ₹314.95
• MACD: Weekly Bearish, Monthly Mildly Bearish
• RSI: Neutral (No Signal) on Weekly and Monthly
• Bollinger Bands: Weekly Bullish, Monthly Mildly Bearish
• Moving Averages: Daily Mildly Bearish
• KST: Bearish on Weekly and Monthly
• Dow Theory: Weekly Mildly Bullish, Monthly Mildly Bearish
• OBV: Weekly Mildly Bearish, Monthly No Trend
• Mojo Score: 48.0 (Sell), upgraded from Strong Sell on 09 Jan 2026

Overall, Campus Activewear Ltd is at a technical crossroads, with early signs of momentum improvement tempered by persistent bearish indicators. Investors should continue to monitor price action and volume closely, alongside broader sector and market developments, to gauge the stock’s potential trajectory in the coming months.

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