Technical Trend Overview
The recent technical assessment reveals a deterioration in Century Plyboards’ momentum. The weekly and monthly Moving Average Convergence Divergence (MACD) indicators have both turned mildly bearish, signalling a potential downtrend in the medium term. This is complemented by bearish Bollinger Bands on both weekly and monthly charts, indicating increased volatility and downward pressure on the stock price.
Meanwhile, the Relative Strength Index (RSI) remains neutral with no clear signal on either the weekly or monthly timeframe, suggesting that the stock is neither overbought nor oversold at present. However, the daily moving averages still maintain a mildly bullish posture, reflecting some short-term support despite the broader bearish signals.
Price Action and Moving Averages
Century Plyboards’ current price of ₹757.90 is significantly below its 52-week high of ₹895.00, marking a decline of approximately 15.3% from the peak. The stock’s daily moving averages, while mildly bullish, have not been sufficient to prevent the recent price drop. The daily high of ₹800.60 on 2 Feb 2026 was nearly matched by the previous close, but the stock failed to sustain gains and closed near the day’s low, reflecting selling pressure.
The mild bullishness in daily moving averages may offer some short-term support, but the weekly and monthly technicals suggest that this support could be fragile if bearish momentum intensifies.
Additional Technical Indicators
The Know Sure Thing (KST) indicator, which helps identify major price cycles, has shifted to mildly bearish on both weekly and monthly charts. This aligns with the MACD and Bollinger Bands signals, reinforcing the view of weakening momentum. The Dow Theory analysis shows no clear trend on weekly or monthly timeframes, indicating market indecision and a lack of strong directional conviction.
On-Balance Volume (OBV), a volume-based indicator used to confirm price trends, also shows no discernible trend, suggesting that volume is not currently supporting any significant price movement either way.
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Market Performance Comparison
Over recent periods, Century Plyboards has underperformed the broader Sensex index. The stock returned 2.05% over the past week compared to the Sensex’s decline of 1.00%, showing some short-term resilience. However, over the last month, the stock fell 6.69%, worse than the Sensex’s 4.67% decline. Year-to-date, the stock is down 8.55%, lagging the Sensex’s 5.28% drop.
Over longer horizons, Century Plyboards has delivered strong absolute returns, outperforming the Sensex significantly. The three-year return stands at 56.09% versus the Sensex’s 35.67%, while the five-year and ten-year returns are 186.38% and 406.79% respectively, compared to the Sensex’s 74.40% and 224.57%. This long-term outperformance highlights the company’s growth potential despite recent technical setbacks.
Mojo Score and Rating Update
MarketsMOJO has downgraded Century Plyboards from a Hold to a Sell rating as of 1 Feb 2026, reflecting the shift in technical momentum and deteriorating trend signals. The current Mojo Score stands at 47.0, indicating weak technical and fundamental outlook. The Market Cap Grade is 3, suggesting a mid-tier market capitalisation relative to peers in the plywood boards and laminates sector.
This downgrade is consistent with the mildly bearish weekly and monthly technical indicators and the recent price decline. Investors should be cautious and monitor for further confirmation of trend direction before considering new positions.
Sector and Industry Context
Century Plyboards operates within the plywood boards and laminates sector, which has faced mixed demand conditions amid fluctuating raw material costs and competitive pressures. The sector’s performance has been volatile, with some companies showing resilience through innovation and cost control, while others have struggled with margin compression.
Given the current technical signals and the company’s recent price action, Century Plyboards appears to be at a critical juncture. The mildly bearish momentum indicators suggest that the stock may face further downside risk unless it can regain upward momentum supported by improving fundamentals or sector tailwinds.
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Investor Takeaway
Investors in Century Plyboards should weigh the current technical signals carefully. The shift to mildly bearish momentum on weekly and monthly MACD, KST, and Bollinger Bands, combined with the downgrade to a Sell rating, suggests caution. While the daily moving averages offer some short-term support, the broader trend appears to be weakening.
Long-term investors may consider the company’s strong historical returns and sector positioning, but should remain vigilant for signs of trend reversal or further deterioration. Monitoring volume trends and RSI for emerging signals could provide early indications of a change in momentum.
In summary, Century Plyboards is navigating a challenging technical landscape that calls for prudent risk management and close observation of market developments.
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