Technical Trend Overview and Price Movement
As of 9 January 2026, Coromandel International’s share price closed at ₹2,270.00, down 2.09% from the previous close of ₹2,318.40. The intraday range saw a high of ₹2,322.80 and a low of ₹2,260.00, reflecting increased volatility. The stock remains comfortably above its 52-week low of ₹1,590.00 but is still some distance from its 52-week high of ₹2,720.00, indicating room for both upside and downside movement.
The recent technical trend change from sideways to mildly bearish suggests that the stock’s momentum is weakening after a period of consolidation. This shift is corroborated by the daily moving averages, which have turned bearish, signalling that short-term price averages are now trending lower relative to longer-term averages. Such a development often precedes further downward pressure unless countered by strong buying interest.
MACD and Momentum Indicators
The Moving Average Convergence Divergence (MACD) indicator presents a mixed picture. On a weekly basis, the MACD remains bullish, indicating that momentum over the medium term is still positive. However, the monthly MACD has turned mildly bearish, suggesting that longer-term momentum is weakening. This divergence between weekly and monthly MACD readings points to a transitional phase where short-term strength may be offset by longer-term caution.
Complementing the MACD, the Know Sure Thing (KST) indicator also shows a similar pattern: bullish on the weekly chart but mildly bearish on the monthly timeframe. This reinforces the notion that while recent price action has some upward momentum, the broader trend is losing steam.
RSI and Bollinger Bands Analysis
The Relative Strength Index (RSI) on both weekly and monthly charts currently shows no clear signal, hovering in neutral territory. This lack of directional RSI momentum suggests that the stock is neither overbought nor oversold, leaving room for either a rebound or further decline depending on upcoming market catalysts.
Bollinger Bands on the weekly chart indicate a sideways movement, reflecting the recent consolidation phase. Conversely, the monthly Bollinger Bands are mildly bullish, hinting at potential upward volatility over the longer term. This contrast between timeframes highlights the stock’s current indecision and the possibility of a breakout in either direction.
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Moving Averages and Volume-Based Indicators
Daily moving averages have turned bearish, signalling that the short-term trend is weakening. This is a critical observation for traders relying on moving average crossovers as confirmation of trend direction. The bearish crossover suggests that sellers have gained the upper hand in recent sessions.
On the other hand, volume-based indicators such as On-Balance Volume (OBV) show no clear trend on both weekly and monthly charts. The absence of a discernible OBV trend implies that volume is not strongly confirming price movements, which may indicate a lack of conviction among market participants.
Dow Theory and Broader Market Context
According to Dow Theory, there is no established trend on either the weekly or monthly timeframe for Coromandel International. This absence of a confirmed trend aligns with the mixed signals from other technical indicators, underscoring the stock’s current phase of uncertainty.
Comparing Coromandel International’s returns with the Sensex reveals a strong long-term outperformance. Over the past 10 years, the stock has delivered a remarkable 1,150.00% return compared to the Sensex’s 237.61%. Even over shorter periods, such as one year, the stock’s 17.01% gain comfortably outpaces the Sensex’s 7.72%. However, recent monthly and year-to-date returns have been slightly negative or flat, reflecting the current technical caution.
Mojo Score and Rating Revision
MarketsMOJO has revised Coromandel International’s Mojo Grade from Buy to Hold as of 18 December 2025, reflecting the evolving technical landscape and the stock’s current momentum challenges. The Mojo Score stands at 55.0, indicating a moderate outlook. The Market Cap Grade remains low at 2, suggesting limited market capitalisation strength relative to peers.
This downgrade signals a more cautious stance for investors, recommending close monitoring of technical developments before committing to fresh positions.
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Investor Takeaway and Outlook
Coromandel International’s recent technical shifts suggest a period of consolidation with a mild bearish tilt in the short term. The mixed signals from MACD, KST, and Bollinger Bands across different timeframes highlight the stock’s current indecision. While weekly momentum indicators remain cautiously optimistic, monthly signals point to a potential weakening trend.
Investors should weigh these technical factors alongside fundamental considerations and broader market conditions. The stock’s strong long-term performance relative to the Sensex remains a positive backdrop, but the downgrade to a Hold rating advises prudence.
Monitoring key support levels near ₹2,260 and resistance around ₹2,320 will be crucial in the coming sessions. A decisive break below support could confirm the bearish momentum, while a rebound above resistance may signal renewed strength.
In summary, Coromandel International currently presents a nuanced technical picture that favours a cautious approach. Investors seeking exposure to the fertilisers sector may consider waiting for clearer confirmation of trend direction before increasing positions.
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