Gulf Oil Lubricants India Ltd Sees Technical Momentum Shift Amid Mixed Market Signals

Price Momentum and Daily Performance

On 10 Feb 2026, Gulf Oil Lubricants India Ltd closed at ₹1,165.35, marking a significant increase from the previous close of ₹1,115.25. The stock traded within a range of ₹1,116.00 to ₹1,167.25 during the day, inching closer to its 52-week high of ₹1,331.20, while comfortably above its 52-week low of ₹972.45. This intraday strength contributed to a day change of 4.49%, signalling renewed buying interest.

However, the broader technical trend has shifted only mildly, moving from a bearish to a mildly bearish stance. This suggests that while short-term momentum is improving, the stock has yet to establish a definitive bullish trend.

Technical Indicator Analysis: MACD, RSI, and Moving Averages

The Moving Average Convergence Divergence (MACD) indicator remains bearish on the weekly chart and mildly bearish on the monthly chart. This divergence indicates that while short-term momentum is weak, there is a slight improvement in longer-term momentum. The MACD histogram on the weekly scale continues to show negative values, reflecting subdued buying pressure, but the monthly MACD line is inching closer to a potential crossover, which could signal a future bullish reversal if confirmed.

The Relative Strength Index (RSI) on both weekly and monthly charts currently shows no clear signal, hovering in a neutral zone. This lack of momentum extremes suggests the stock is neither overbought nor oversold, providing a balanced outlook but also indicating the absence of strong directional conviction among traders.

Daily moving averages remain mildly bearish, with the stock price hovering near the short-term averages but failing to decisively break above longer-term moving averages. This technical setup implies that while there is some upward momentum, resistance levels remain intact, limiting immediate upside potential.

Additional Technical Signals: Bollinger Bands, KST, Dow Theory, and OBV

Bollinger Bands on both weekly and monthly charts are mildly bearish, indicating that the stock price is trading near the lower band, which often signals increased volatility and potential downward pressure. This aligns with the mildly bearish trend but also suggests that the stock could be approaching a support zone where a reversal might occur.

The Know Sure Thing (KST) oscillator is bearish on the weekly chart and mildly bearish on the monthly chart, reinforcing the cautious stance among momentum traders. The bearish weekly KST suggests short-term momentum remains weak, while the monthly mild bearishness hints at a possible stabilisation over a longer horizon.

Interestingly, Dow Theory analysis shows a mildly bullish trend on the weekly timeframe but no clear trend on the monthly scale. This divergence highlights the mixed signals investors face, with short-term price action showing some strength but longer-term trends remaining uncertain.

On-Balance Volume (OBV) indicators show no clear trend on either weekly or monthly charts, indicating that volume flows are not strongly supporting either buying or selling pressure. This neutral volume pattern further complicates the technical outlook, suggesting that market participants are waiting for clearer directional cues.

Relative Performance Versus Sensex

When compared to the Sensex, Gulf Oil Lubricants India Ltd has demonstrated mixed returns across various timeframes. Over the past week, the stock outperformed the Sensex with a 5.58% gain versus the benchmark’s 2.94%. Similarly, over the past month, the stock returned 1.60%, surpassing the Sensex’s 0.59% gain.

However, year-to-date performance shows a decline of 2.90% for Gulf Oil Lubricants, slightly worse than the Sensex’s 1.36% fall. Over the one-year horizon, the stock’s return of 0.20% lags behind the Sensex’s robust 7.97% gain, indicating some underperformance in the recent past.

Longer-term returns paint a more favourable picture for Gulf Oil Lubricants. Over three years, the stock has surged 168.17%, significantly outperforming the Sensex’s 38.25%. Over five years, the stock’s 61.56% gain is marginally below the Sensex’s 63.78%, while over ten years, the stock has returned 131.43%, trailing the Sensex’s 249.97% but still delivering substantial wealth creation.

Mojo Score and Rating Upgrade

MarketsMOJO has upgraded Gulf Oil Lubricants India Ltd’s Mojo Grade from Sell to Hold as of 09 Feb 2026, reflecting the recent technical improvements and stabilisation in momentum. The current Mojo Score stands at 52.0, indicating a neutral stance with potential for further improvement if technical indicators confirm a bullish trend.

The Market Cap Grade remains at 3, suggesting a mid-tier market capitalisation relative to peers in the oil sector. This rating upgrade signals cautious optimism but advises investors to monitor technical developments closely before committing to a stronger buy position.

Investment Implications and Outlook

Gulf Oil Lubricants India Ltd’s recent technical momentum shift from bearish to mildly bearish, combined with mixed signals from key indicators, suggests a period of consolidation and cautious optimism. The stock’s strong relative performance over short-term periods contrasts with its subdued year-to-date and one-year returns, highlighting the importance of a nuanced approach to investment decisions.

Investors should watch for confirmation of bullish signals, such as a positive MACD crossover on monthly charts, RSI moving into overbought territory, or a decisive break above key moving averages. Conversely, failure to sustain current levels or renewed weakness in Bollinger Bands and KST indicators could signal further downside risk.

Given the current Hold rating and Mojo Score of 52.0, a balanced approach is advisable, with attention to technical developments and broader market conditions in the oil sector.

Conclusion

Gulf Oil Lubricants India Ltd is at a technical crossroads, with momentum indicators signalling a tentative shift towards stability but lacking strong bullish confirmation. The recent upgrade in Mojo Grade to Hold reflects this cautious optimism. Investors should remain vigilant for further technical developments, particularly in MACD and moving averages, to gauge the stock’s next directional move.

While the stock’s short-term outperformance against the Sensex is encouraging, longer-term underperformance relative to the benchmark suggests that investors should weigh the risks carefully. The mixed technical signals and neutral volume trends imply that Gulf Oil Lubricants India Ltd is best approached with a balanced strategy, awaiting clearer momentum before committing to aggressive positions.

Unlock special upgrade rates for a limited period. Start Saving Now →