Technical Trend Shift and Market Context
Hatsun Agro’s technical trend has transitioned from mildly bearish to outright bearish, signalling increased selling pressure. The stock closed at ₹902.00 on 18 Feb 2026, a marginal increase of 0.06% from the previous close of ₹901.45, but this slight uptick belies the broader technical weakness. The 52-week high stands at ₹1,178.80, while the 52-week low is ₹731.05, indicating a wide trading range but recent price action has failed to sustain momentum near the highs.
Comparatively, the Sensex has outperformed Hatsun Agro over multiple time horizons. Year-to-date, Hatsun Agro has declined by 7.61%, while the Sensex has fallen by only 2.08%. Over the past year, the divergence is starker, with Hatsun Agro down 6.86% against a robust 9.81% gain in the Sensex. Even over three and five years, the stock’s returns of 1.31% and 30.17% lag behind the Sensex’s 36.80% and 61.40% respectively, underscoring relative underperformance within the FMCG sector.
MACD and Momentum Indicators Signal Bearishness
The Moving Average Convergence Divergence (MACD) indicator remains bearish on both weekly and monthly charts, confirming sustained downward momentum. The weekly MACD histogram continues to show negative values, reflecting that the short-term moving average is below the long-term average, a classic sell signal. The monthly MACD corroborates this trend, indicating that the bearish momentum is not merely a short-term anomaly but entrenched over a longer horizon.
Meanwhile, the Relative Strength Index (RSI) on weekly and monthly timeframes remains neutral, offering no clear buy or sell signals. This lack of RSI confirmation suggests that while the stock is not yet oversold, it also lacks the bullish momentum needed to reverse the downtrend.
Bollinger Bands and Moving Averages Confirm Downtrend
Bollinger Bands on the weekly chart are firmly bearish, with the stock price hugging the lower band, indicating persistent selling pressure and increased volatility. The monthly Bollinger Bands are mildly bearish, suggesting some potential for stabilisation but no immediate reversal. Daily moving averages further reinforce the negative outlook, with the stock trading below its key short-term and long-term moving averages, signalling that the bears currently dominate price action.
Additional Technical Signals: KST, Dow Theory, and OBV
The Know Sure Thing (KST) indicator presents a mixed picture. On the weekly scale, it remains bearish, aligning with other momentum indicators. However, the monthly KST is mildly bullish, hinting at a possible longer-term recovery if positive catalysts emerge. Dow Theory analysis shows no clear trend on the weekly chart but mildly bearish signals on the monthly timeframe, reinforcing the cautious stance.
On-Balance Volume (OBV) readings are mildly bullish on the weekly chart, suggesting that volume flow may be supporting the stock price to some extent. However, the monthly OBV shows no discernible trend, indicating that volume dynamics have not decisively shifted in favour of buyers or sellers over the longer term.
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Mojo Score and Rating Downgrade
MarketsMOJO has downgraded Hatsun Agro Product Ltd’s Mojo Grade from Hold to Sell as of 13 Feb 2026, reflecting the deteriorating technical and fundamental outlook. The current Mojo Score stands at 45.0, a level that signals caution for investors. The Market Cap Grade remains modest at 3, indicating a mid-tier market capitalisation within the FMCG sector.
This downgrade is consistent with the technical indicators’ bearish signals and the stock’s underperformance relative to the broader market. Investors should weigh this rating carefully, especially given the stock’s recent inability to sustain gains above ₹900 despite intraday highs reaching ₹911.10 on 18 Feb 2026.
Price Momentum and Relative Performance Analysis
Examining the stock’s returns relative to the Sensex reveals a pattern of underwhelming performance. Over the past week, Hatsun Agro declined by 2.55%, more than double the Sensex’s 0.98% fall. The one-month return also shows a 2.05% drop versus a marginal 0.14% decline in the Sensex. Year-to-date and one-year returns further highlight the stock’s laggard status, with losses contrasting against the Sensex’s gains.
Longer-term returns over five and ten years show some resilience, with Hatsun Agro delivering 30.17% and 340.07% respectively, though these still trail the Sensex’s 61.40% and 256.90% gains. This suggests that while the company has delivered strong absolute returns over a decade, recent trends have been less favourable, and the stock is currently under pressure.
Investor Implications and Outlook
Given the confluence of bearish technical signals and the recent downgrade, investors should approach Hatsun Agro with caution. The lack of RSI confirmation and mildly bullish monthly KST offer some hope for a turnaround, but these are outweighed by the dominant negative momentum across MACD, moving averages, and Bollinger Bands.
Traders may consider waiting for a clear technical reversal or confirmation of strength before initiating new positions. Long-term investors should monitor fundamental developments alongside technical trends, as the FMCG sector remains competitive and sensitive to macroeconomic factors such as inflation and consumer demand shifts.
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Conclusion
Hatsun Agro Product Ltd’s technical landscape has shifted decisively towards bearishness, with multiple indicators confirming downward momentum. The downgrade to a Sell rating by MarketsMOJO underscores the need for caution amid relative underperformance and weak price action. While some longer-term indicators hint at potential recovery, the prevailing trend suggests that investors should remain vigilant and consider alternative opportunities within the FMCG sector or broader market.
Monitoring key support levels near the 52-week low of ₹731.05 and watching for any improvement in volume and momentum indicators will be critical in assessing the stock’s next directional move.
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