Hindustan Unilever Ltd Gains 2.11%: Mixed Technical Signals Shape Weekly Momentum

2 February 2026: Bearish Momentum Amid Technical Downturn

HUL opened the week under pressure, closing at Rs.2,355.80, down 0.75% on the day, while the Sensex declined 1.03%. Technical indicators signalled a shift from mildly bearish to a more pronounced bearish trend. Daily moving averages turned decisively bearish, with the stock trading below key averages, indicating near-term downward pressure.

The MACD presented a mixed picture: mildly bullish on a weekly basis but bearish monthly, suggesting short-term relief rallies amid longer-term weakness. The Know Sure Thing (KST) indicator echoed this divergence, bearish weekly but mildly bullish monthly. RSI hovered neutrally, while Bollinger Bands turned bearish, signalling increased volatility and potential continuation of the downtrend.

Volume indicators such as On-Balance Volume (OBV) showed no clear trend, weakening conviction behind price moves. Dow Theory also indicated uncertainty with no clear trend confirmation. Relative to the Sensex, HUL underperformed on the day but showed relative strength over longer periods.

3 February 2026: Recovery with Market Rally

On 3 February, HUL rebounded to Rs.2,369.35, gaining 0.58%, while the Sensex surged 2.63%. This recovery aligned with a broader market rally, though technical momentum remained cautious. The stock’s volume declined slightly to 29,697 shares, reflecting measured investor participation. The day’s gain suggested tentative investor confidence despite the prior day’s bearish signals.

4 February 2026: Mildly Bearish Momentum Amid Mixed Signals

HUL’s price edged up marginally by 0.08% to Rs.2,371.35, with volume increasing to 46,007 shares. Technical momentum shifted from bearish to mildly bearish, reflecting a tentative improvement. The weekly MACD was mildly bullish, but the monthly MACD remained bearish, indicating persistent longer-term pressure.

RSI remained neutral, and Bollinger Bands continued to signal downside risk. Moving averages suggested cautious positioning, with short-term averages below longer-term ones. The Know Sure Thing (KST) indicator showed bearish weekly but mildly bullish monthly readings, reinforcing the mixed momentum picture. Dow Theory assessments indicated a mildly bearish weekly trend with no monthly trend.

Relative performance showed HUL underperforming the Sensex over the week but outperforming over the month and year-to-date periods. The Mojo Score remained at 42.0 with a Sell grade, reflecting the cautious outlook.

5 February 2026: Profit Taking and Volatility

The stock declined 0.73% to Rs.2,354.00 on increased volume of 65,747 shares, while the Sensex fell 0.53%. This dip reflected profit taking and technical resistance, with the stock trading below key moving averages. The intraday range showed volatility, with a high of Rs.2,423.85 and a low of Rs.2,351.30, indicating mixed investor sentiment.

Technical indicators confirmed a bearish trend, with daily moving averages signalling sellers’ control. MACD remained mixed, weekly mildly bullish but monthly bearish. Bollinger Bands suggested downside risk, while OBV showed mild weekly bullishness but inconclusive monthly volume trends. Dow Theory assessments remained cautious.

6 February 2026: Intraday High and Technical Downgrade

HUL surged 2.96% to close at Rs.2,423.75, touching an intraday high of Rs.2,423.7, outperforming the Sensex’s 0.10% gain. The 3.11% intraday surge marked the week’s strongest price movement, supported by trading above short- and medium-term moving averages. However, the stock remained below longer-term averages, indicating resistance ahead.

Despite the strong finish, technical momentum shifted back to bearish, with a downgrade in the Mojo Grade from Hold to Sell as of 3 December 2025. The bearish daily moving averages and Bollinger Bands, combined with a bearish monthly MACD, signalled increased downside risk. OBV and Dow Theory provided mixed signals, reflecting ongoing uncertainty.

Relative to the Sensex, HUL marginally outperformed over the week and year-to-date but lagged over longer horizons. The stock’s Market Cap Grade remained at 1, consistent with its large-cap status but limited market capitalisation strength within FMCG peers.

Key Takeaways

Hindustan Unilever Ltd’s week was characterised by a tug-of-war between bearish technical momentum and sporadic bullish recoveries. The stock’s 2.11% weekly gain outpaced the Sensex’s 1.51%, signalling relative strength despite underlying caution.

Early-week bearish signals were driven by moving averages and Bollinger Bands, with mixed MACD and KST readings indicating short-term volatility amid longer-term weakness. The midweek shift to mildly bearish momentum suggested tentative investor confidence, but the technical downgrade to a Sell grade underscored persistent challenges.

Friday’s strong intraday surge and close near the week’s high demonstrated resilience and buying interest, supported by favourable short-term technical indicators. However, the stock remains below longer-term moving averages, indicating resistance and the need for sustained momentum to confirm a trend reversal.

Volume trends and Dow Theory assessments were inconclusive, reflecting uncertainty in directional conviction. Relative to the Sensex, HUL showed mixed performance across various timeframes, with recent outperformance tempered by longer-term underperformance.

Conclusion

Hindustan Unilever Ltd’s performance in the week ending 6 February 2026 reflects a complex interplay of technical signals and market dynamics. While the stock managed to outperform the Sensex with a 2.11% gain, the prevailing technical backdrop remains cautious, with bearish momentum and a Sell-grade Mojo Score advising prudence.

Investors should monitor key technical levels and momentum indicators closely, as the stock navigates resistance zones and attempts to build on its recent strength. The mixed signals and volatility suggest that a clear directional trend has yet to emerge, warranting a measured approach in portfolio allocation.

Overall, HUL’s week was a study in contrasts: resilience amid caution, gains amid bearish undertones, and potential amid uncertainty.

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