Confidence Petroleum India Ltd Technical Momentum Shifts Amid Mixed Indicators

Technical Momentum and Price Action Overview

On 18 Feb 2026, Confidence Petroleum’s share price traded within a range of ₹31.76 to ₹33.75, closing near the upper end of the day’s spectrum. This represents a 3.9% increase from the previous close of ₹32.30. However, the stock remains significantly below its 52-week high of ₹63.59, highlighting persistent downward pressure over the past year.

The technical trend has shifted from outright bearish to mildly bearish, signalling a tentative easing of selling pressure but no definitive reversal. Daily moving averages continue to exert bearish influence, suggesting that short-term momentum remains subdued. The stock’s 52-week low stands at ₹30.00, indicating that current prices hover just above critical support levels.

MACD and Momentum Oscillators Paint a Mixed Picture

The Moving Average Convergence Divergence (MACD) indicator reveals a divergence in momentum across timeframes. On a weekly basis, the MACD is mildly bullish, indicating some upward momentum building in the medium term. Conversely, the monthly MACD remains bearish, reflecting longer-term downward trends that have yet to be overcome.

Similarly, the Know Sure Thing (KST) oscillator aligns with this mixed momentum. Weekly readings are mildly bullish, suggesting potential for short-term gains, while monthly KST remains bearish, reinforcing the longer-term cautionary stance.

Relative Strength Index (RSI) readings on both weekly and monthly charts currently show no clear signal, hovering in neutral zones. This lack of directional RSI momentum implies that the stock is neither overbought nor oversold, leaving room for either a recovery or further decline depending on market catalysts.

Bollinger Bands and Volume Trends Suggest Caution

Bollinger Bands on both weekly and monthly charts remain mildly bearish, indicating that price volatility is skewed towards the downside. The bands suggest that the stock is trading near the lower volatility range, which could either precede a consolidation phase or a further decline if selling intensifies.

On-Balance Volume (OBV) analysis adds another layer of complexity. Weekly OBV is mildly bullish, signalling that buying volume has increased slightly in the short term. However, monthly OBV remains bearish, consistent with the longer-term downtrend and indicating that overall volume support for a sustained rally is lacking.

Moving Averages and Dow Theory Insights

Daily moving averages continue to weigh on the stock, with the short-term averages positioned below longer-term averages, reinforcing a bearish stance. This alignment typically signals that the stock is in a downtrend, and investors should exercise caution before expecting a sustained recovery.

Dow Theory assessments show no clear trend on the weekly timeframe, while the monthly perspective remains mildly bearish. This suggests that while short-term price swings may offer trading opportunities, the broader market consensus on Confidence Petroleum remains cautious.

Comparative Returns Highlight Underperformance

Confidence Petroleum’s returns have lagged significantly behind the Sensex across multiple time horizons. Year-to-date, the stock has declined by 8.31%, compared to a 2.08% drop in the Sensex. Over the past year, the stock has plummeted 42.88%, while the Sensex gained 9.81%. Even over five and ten-year periods, Confidence Petroleum’s returns of -25.42% and +567.20% respectively contrast with the Sensex’s +61.40% and +256.90%, underscoring the stock’s volatile and uneven performance history.

These figures highlight the challenges faced by investors in this gas sector stock, which has struggled to keep pace with broader market gains despite occasional rallies.

Mojo Score and Analyst Ratings Reflect Cautious Outlook

MarketsMOJO assigns Confidence Petroleum a Mojo Score of 46.0, categorising it as a Sell with a recent downgrade from Hold on 10 Feb 2026. The Market Cap Grade stands at 4, indicating a relatively modest market capitalisation compared to peers. This downgrade reflects the deteriorating technical and fundamental outlook, signalling that investors should approach the stock with caution.

Given the mixed technical signals and the stock’s underperformance relative to the Sensex, the current consensus suggests limited upside potential in the near term. Investors are advised to monitor key technical indicators closely, particularly the MACD and moving averages, for signs of a more decisive trend reversal before committing fresh capital.

Conclusion: Navigating a Complex Technical Landscape

Confidence Petroleum India Ltd’s recent price momentum shift from bearish to mildly bearish, combined with mixed technical indicator signals, paints a nuanced picture for investors. While weekly MACD and KST oscillators hint at some short-term bullishness, monthly indicators and moving averages maintain a bearish bias. The absence of clear RSI signals further complicates the outlook.

Price action near the lower Bollinger Bands and the stock’s proximity to its 52-week low suggest that downside risks remain present. Meanwhile, volume trends offer only tentative support for a recovery. The stock’s significant underperformance relative to the Sensex over multiple timeframes reinforces the need for caution.

In this environment, investors should weigh the technical signals carefully and consider alternative opportunities within the gas sector or broader market that may offer more favourable risk-reward profiles.

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