Technical Trend Overview and Price Movement
As of 17 Feb 2026, Eureka Forbes Ltd’s share price closed at ₹525.15, up from the previous close of ₹518.05. The stock traded within a range of ₹509.00 to ₹530.00 during the day, reflecting moderate intraday volatility. The 52-week high stands at ₹668.50, while the 52-week low is ₹451.60, indicating a significant price range over the past year.
The recent technical trend has shifted from a prolonged sideways movement to a mildly bearish trajectory. This change is corroborated by several key indicators, signalling a cautious outlook for the near term.
MACD and Momentum Indicators Signal Bearishness
The Moving Average Convergence Divergence (MACD) indicator, a widely used momentum oscillator, shows bearish signals on the weekly chart and mildly bearish readings on the monthly chart. This suggests that the stock’s momentum is weakening over medium and longer-term horizons. The weekly MACD bearishness indicates that recent price gains may lack strong underlying support, while the monthly mild bearishness hints at a potential continuation of downward pressure if no positive catalyst emerges.
Complementing the MACD, the KST (Know Sure Thing) indicator presents a bearish stance on the weekly timeframe but turns bullish on the monthly scale. This divergence implies short-term weakness but some underlying strength over a longer horizon, adding complexity to the momentum analysis.
RSI and Bollinger Bands: Mixed Signals
The Relative Strength Index (RSI) remains neutral with no clear signal on both weekly and monthly charts, hovering around mid-range levels. This neutrality suggests the stock is neither overbought nor oversold, leaving room for directional movement based on upcoming market developments.
Bollinger Bands, which measure volatility and price levels relative to moving averages, indicate a mildly bearish stance on the weekly chart and a more pronounced bearish signal on the monthly chart. The stock price approaching the lower band on the monthly timeframe suggests increased downside risk, while the weekly mild bearishness points to short-term consolidation or weakness.
Moving Averages and Volume Trends
Daily moving averages provide a contrasting view, showing a mildly bullish trend. This suggests that in the very short term, the stock price is gaining some upward momentum, possibly driven by recent positive trading sessions. However, this short-term bullishness is tempered by the broader weekly and monthly bearish signals.
On volume, the On-Balance Volume (OBV) indicator shows no clear trend on the weekly chart but a mildly bearish signal on the monthly chart. This implies that selling pressure may be gradually increasing over the longer term, which could weigh on price appreciation if sustained.
Dow Theory and Broader Market Context
According to Dow Theory, the weekly chart shows no definitive trend, while the monthly chart is mildly bearish. This aligns with the overall technical assessment of a cautious to negative outlook over the medium term. Investors should note that the broader market context, including sector performance and macroeconomic factors, will influence the stock’s trajectory.
Comparative Returns and Market Performance
When compared with the benchmark Sensex, Eureka Forbes Ltd’s returns reveal a mixed performance. Over the past week, the stock gained 0.15%, outperforming the Sensex’s decline of 0.94%. However, over the past month, the stock fell 6.29%, significantly underperforming the Sensex’s modest 0.35% decline. Year-to-date, the stock is down 14.92%, compared to the Sensex’s 2.28% loss, highlighting recent weakness.
Longer-term returns show a more positive picture, with a 7.97% gain over one year, though this still trails the Sensex’s 9.66% rise. Over three years, Eureka Forbes has returned 11.52%, considerably below the Sensex’s 35.81% gain, reflecting challenges in sustaining growth momentum relative to the broader market.
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Mojo Score and Rating Changes Reflect Market Sentiment
Eureka Forbes currently holds a Mojo Score of 40.0, categorised as a Sell rating, a downgrade from its previous Hold grade as of 24 Nov 2025. This downgrade reflects deteriorating technical and fundamental conditions, signalling caution for investors. The Market Cap Grade stands at 3, indicating a mid-tier market capitalisation within its sector.
The Electronics & Appliances sector, to which Eureka Forbes belongs, has faced headwinds recently, with competitive pressures and evolving consumer preferences impacting growth prospects. The downgrade in rating aligns with these sectoral challenges and the stock’s technical momentum shift.
Investor Implications and Outlook
Given the mixed technical signals, investors should approach Eureka Forbes with prudence. The mildly bearish weekly and monthly momentum indicators suggest potential downside risk, while the daily moving averages’ mild bullishness could offer short-term trading opportunities. The neutral RSI and lack of strong volume trends imply that the stock may consolidate before a decisive move.
Long-term investors should weigh the stock’s underperformance relative to the Sensex and consider sector dynamics before increasing exposure. Meanwhile, traders might monitor key technical levels, such as the 52-week low of ₹451.60 and the recent high near ₹530.00, for potential entry or exit points.
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Conclusion: A Cautious Stance Recommended
Eureka Forbes Ltd’s recent technical parameter changes highlight a shift towards a more cautious stance. While short-term price action shows some resilience, the broader weekly and monthly indicators point to mild bearishness and potential downside risks. The downgrade to a Sell rating by MarketsMOJO underscores the need for investors to carefully evaluate their positions in this stock.
Investors should continue to monitor key technical indicators such as MACD, Bollinger Bands, and moving averages, alongside fundamental developments within the Electronics & Appliances sector. Given the mixed signals and relative underperformance versus the Sensex, a balanced approach favouring risk management is advisable.
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