Price Momentum and Intraday Performance
On 9 Feb 2026, Concord Biotech’s stock surged by 13.96% to close at ₹1,330.55, up from the previous close of ₹1,167.60. The day’s trading range was wide, with a low of ₹1,145.00 and a high of ₹1,388.20, indicating significant volatility. This sharp price movement contrasts with the stock’s 52-week high of ₹2,451.65 and a low of ₹1,100.00, underscoring the stock’s recent struggles to regain its earlier momentum.
Comparatively, the Sensex posted a modest gain of 1.59% over the past week, while Concord Biotech outperformed with a 13.27% weekly return. However, the stock’s longer-term returns remain disappointing, with a 42.65% decline over the past year versus a 7.07% gain for the Sensex. Year-to-date, the stock is down 1.11%, slightly better than the Sensex’s 1.92% decline, but still reflecting underlying weakness.
Technical Indicator Analysis: MACD, RSI, and Moving Averages
The Moving Average Convergence Divergence (MACD) indicator remains bearish on the weekly timeframe, signalling that the stock’s downward momentum has not fully reversed. The monthly MACD reading is inconclusive, suggesting a lack of clear directional momentum over the longer term. This divergence between weekly and monthly MACD readings highlights the stock’s current technical uncertainty.
The Relative Strength Index (RSI) on both weekly and monthly charts shows no definitive signal, hovering in a neutral zone that neither indicates overbought nor oversold conditions. This lack of RSI confirmation tempers the optimism from the recent price rally, implying that the stock may not yet have established a sustainable upward trend.
Daily moving averages also reflect a mildly bearish stance, with short-term averages still below longer-term averages, indicating that the recent price gains may be corrective rather than trend-defining. The stock’s technical trend has shifted from a strongly bearish to a mildly bearish classification, signalling a potential bottoming process but not yet a confirmed reversal.
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Bollinger Bands and KST Indicators Signal Caution
Bollinger Bands on both weekly and monthly charts are mildly bearish, indicating that price volatility remains elevated but without a clear breakout direction. The bands suggest that the stock is trading near the lower range of its recent volatility envelope, which could imply limited downside in the near term but also a lack of strong upward momentum.
The Know Sure Thing (KST) indicator on the weekly timeframe remains bearish, reinforcing the view that the stock’s momentum is still under pressure. Monthly KST data is unavailable, but the weekly reading aligns with the broader technical caution prevailing among traders.
Dow Theory and On-Balance Volume (OBV) Insights
According to Dow Theory, the weekly and monthly trends are mildly bearish, indicating that the stock has yet to establish a confirmed primary uptrend. This aligns with the mixed signals from other technical tools, suggesting that investors should remain cautious despite recent price gains.
On-Balance Volume (OBV) presents a more nuanced picture: weekly OBV is mildly bearish, reflecting cautious selling pressure, while monthly OBV is mildly bullish, hinting at some accumulation by longer-term investors. This divergence may indicate that institutional players are selectively buying at current levels, potentially setting the stage for a future recovery.
Mojo Score and Market Capitalisation Grade
Concord Biotech’s current Mojo Score stands at 34.0, with a Mojo Grade of Sell, upgraded from a previous Strong Sell rating on 6 Feb 2026. This improvement suggests a slight easing of negative sentiment but still reflects a cautious stance on the stock’s near-term prospects. The company’s Market Cap Grade is 3, indicating a mid-tier market capitalisation relative to its sector peers.
These ratings, provided by MarketsMOJO, incorporate a comprehensive analysis of financial metrics, technical trends, and market sentiment, offering investors a consolidated view of the stock’s quality and risk profile.
Sector and Industry Context
Operating within the Pharmaceuticals & Biotechnology sector, Concord Biotech faces sector-wide challenges including regulatory scrutiny, pricing pressures, and competitive innovation cycles. The sector has seen mixed performance recently, with some companies benefiting from strong product pipelines while others grapple with patent expiries and R&D setbacks.
Concord’s technical and fundamental indicators suggest it is currently navigating a difficult phase, with price momentum showing tentative signs of stabilisation but not yet a definitive recovery. Investors should weigh these factors carefully against broader sector trends and individual company fundamentals.
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Investor Takeaway and Outlook
Concord Biotech’s recent price surge and technical parameter changes suggest a tentative shift in momentum, but the overall technical landscape remains cautiously bearish. The mixed signals from MACD, RSI, Bollinger Bands, and moving averages indicate that while the stock may be forming a base, confirmation of a sustained uptrend is still pending.
Investors should monitor key technical levels closely, including the 52-week low of ₹1,100.00 as a critical support and the recent intraday high near ₹1,388.20 as a resistance benchmark. A sustained move above this resistance, accompanied by improving volume and bullish indicator confirmation, would be required to signal a more robust recovery.
Given the current Mojo Grade of Sell and the sector’s inherent volatility, a cautious approach is advisable. Long-term investors may consider accumulating on dips if fundamental catalysts emerge, while traders should watch for clearer technical signals before committing to new positions.
Summary of Key Technical Metrics:
- Current Price: ₹1,330.55
- Day Change: +13.96%
- 52-Week High/Low: ₹2,451.65 / ₹1,100.00
- MACD: Weekly Bearish, Monthly Neutral
- RSI: No clear signal on weekly/monthly
- Bollinger Bands: Mildly Bearish (Weekly & Monthly)
- Moving Averages: Daily Mildly Bearish
- KST: Weekly Bearish
- Dow Theory: Mildly Bearish (Weekly & Monthly)
- OBV: Weekly Mildly Bearish, Monthly Mildly Bullish
- Mojo Score: 34.0 (Sell, upgraded from Strong Sell)
In conclusion, Concord Biotech Ltd’s technical parameters reflect a stock in transition, with some early signs of stabilisation but no definitive bullish confirmation. Investors should remain vigilant and consider both technical and fundamental factors before making investment decisions in this volatile sector.
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