Price Movement and Market Context
On 20 Feb 2026, Confidence Petroleum India Ltd closed at ₹32.26, down 3.44% from the previous close of ₹33.41. The intraday range was between ₹32.05 and ₹33.76, reflecting heightened volatility. The stock remains significantly below its 52-week high of ₹63.59, underscoring a prolonged downtrend. The 52-week low stands at ₹30.00, indicating the current price is hovering near multi-month lows.
Comparatively, the stock has underperformed the broader market benchmark, the Sensex, across multiple time frames. Over the past week, Confidence Petroleum declined 5.34%, while the Sensex fell 1.41%. The one-month return for the stock was -3.64%, versus -0.90% for the Sensex. Year-to-date, the stock has lost 11.86%, significantly lagging the Sensex’s 3.19% decline. Over the last year and beyond, the underperformance is even more pronounced, with the stock down 45.44% in contrast to the Sensex’s 8.64% gain.
Technical Indicator Analysis
The technical landscape for Confidence Petroleum has shifted from mildly bearish to outright bearish, reflecting deteriorating momentum and increasing selling pressure. The daily moving averages are firmly bearish, signalling that short-term price trends are negative. This is a critical factor for traders relying on moving average crossovers and trend-following strategies.
On the weekly chart, the Moving Average Convergence Divergence (MACD) remains mildly bullish, suggesting some underlying positive momentum in the medium term. However, the monthly MACD has turned bearish, indicating that the longer-term trend is weakening. This divergence between weekly and monthly MACD readings points to a potential conflict between short-term resilience and longer-term downtrend pressures.
The Relative Strength Index (RSI) on both weekly and monthly timeframes currently shows no clear signal, hovering in neutral zones. This lack of momentum confirmation from RSI suggests that the stock is neither oversold nor overbought, leaving room for further directional movement based on other indicators.
Bollinger Bands and KST Indicators
Bollinger Bands on both weekly and monthly charts are bearish, indicating that the stock price is trending towards the lower band, a sign of sustained selling pressure and increased volatility. This technical setup often precedes further downside or consolidation at lower levels.
The Know Sure Thing (KST) indicator presents a mixed picture: mildly bullish on the weekly timeframe but bearish on the monthly. This suggests short-term momentum may be attempting a recovery, but the longer-term trend remains under pressure.
Strong fundamentals, solid momentum, fair price – This Large Cap from the NBFC sector checks every box for our Top 1%. This should definitely be on your radar!
- - Complete fundamentals package
- - Technical momentum confirmed
- - Reasonable valuation entry
Volume and Dow Theory Insights
On-Balance Volume (OBV) readings are mildly bullish on the weekly scale but mildly bearish monthly, indicating that while recent trading volumes have supported some buying interest, the longer-term volume trend is not confirming a sustained uptrend. This volume divergence often signals caution for investors relying on volume as a confirmation tool.
Dow Theory analysis reveals no clear trend on the weekly timeframe, but a mildly bearish stance on the monthly chart. This aligns with the broader technical narrative of weakening momentum and potential continuation of the downtrend in the medium term.
Mojo Score and Rating Update
MarketsMOJO has downgraded Confidence Petroleum India Ltd from a Hold to a Sell rating as of 10 Feb 2026, reflecting the deteriorating technical and fundamental outlook. The current Mojo Score stands at 46.0, which is below the threshold for a positive recommendation. The Market Cap Grade is 4, indicating a relatively modest market capitalisation compared to peers in the gas sector.
This downgrade is consistent with the technical indicators signalling bearish momentum and the stock’s underperformance relative to the Sensex and sector benchmarks.
Long-Term Performance and Sector Context
Despite the recent weakness, Confidence Petroleum has delivered a remarkable 10-year return of 512.14%, outperforming the Sensex’s 247.96% gain over the same period. However, the last five years have been challenging, with the stock down 27.83% while the Sensex surged 62.11%. This divergence highlights the stock’s cyclical nature and sensitivity to sector-specific dynamics in the gas industry.
Investors should consider the broader gas sector trends, which have faced headwinds from fluctuating commodity prices, regulatory changes, and shifting energy demand patterns. Confidence Petroleum’s technical deterioration may reflect these macroeconomic pressures as well as company-specific challenges.
Confidence Petroleum India Ltd or something better? Our SwitchER feature analyzes this micro-cap Gas stock and recommends superior alternatives based on fundamentals, momentum, and value!
- - SwitchER analysis complete
- - Superior alternatives found
- - Multi-parameter evaluation
Investor Takeaway
Technical analysis of Confidence Petroleum India Ltd reveals a clear shift towards bearish momentum, with multiple indicators confirming weakening price trends. The daily moving averages and monthly MACD have turned negative, while Bollinger Bands and Dow Theory assessments reinforce the downtrend. Although weekly indicators such as MACD and KST show mild bullishness, these are insufficient to offset the broader negative signals.
Given the stock’s underperformance relative to the Sensex and the recent downgrade to a Sell rating by MarketsMOJO, investors should exercise caution. The current price near the 52-week low and the absence of strong RSI signals suggest limited immediate upside. Long-term holders may need to reassess their positions in light of the deteriorating technical and fundamental outlook.
For those seeking exposure to the gas sector, it may be prudent to explore alternative stocks with stronger momentum and more favourable technical profiles, as identified by advanced screening tools.
Conclusion
Confidence Petroleum India Ltd’s technical parameters have shifted decisively towards bearish territory, reflecting increased selling pressure and weakening momentum. The mixed signals from weekly and monthly indicators highlight the complexity of the current market environment but ultimately point to a cautious stance. Investors should monitor key support levels around ₹30.00 and watch for any reversal signals before considering fresh entries.
In the context of broader market trends and sector challenges, the stock’s outlook remains subdued, warranting a conservative approach until technical and fundamental conditions improve.
Limited Period Only. Start at Rs. 9,999 - Get MojoOne for 1 Year + 3 Months FREE (60% Off) Get 71% Off →
