Key Events This Week
2 Feb: Intraday high and technical momentum shift amid volatility
3 Feb: Gap up opening and bullish momentum with 3.85% surge
5 Feb: Significant gap down and intraday low amid price pressure
6 Feb: Week closes with mild decline at Rs.608.95 (-0.29%)
2 February 2026: Intraday High and Technical Momentum Shift
Hindustan Zinc Ltd began the week with a volatile session, hitting an intraday high of Rs.591.15, a 3.79% gain from the previous close. This rebound followed a two-day decline and was supported by strong volume of 1.9 million shares. The stock outperformed the Sensex, which fell 1.03% that day, signalling relative strength amid broader market weakness.
Technical indicators showed a nuanced picture: the stock remained above its 50-, 100-, and 200-day moving averages, indicating medium- to long-term strength, but was trading below its 5- and 20-day averages, suggesting short-term consolidation. MarketsMOJO downgraded the stock from Buy to Hold on 1 February, reflecting mixed technical and valuation signals despite robust quarterly financials.
The stock’s price dropped sharply intraday to Rs.568.95, a 9.53% fall from the prior close, highlighting increased volatility. Momentum oscillators such as MACD remained bullish on weekly and monthly charts, but RSI and KST indicators showed neutral to mildly bearish signals, underscoring the uncertain technical environment.
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3 February 2026: Gap Up and Bullish Momentum
The stock rebounded strongly on 3 February, opening with a 3.9% gap up and reaching an intraday high of Rs.639.4, a 3.85% gain on the day. This surge was supported by a volume of over 2 million shares and outpaced both the Non-Ferrous Metals sector (+3.35%) and the Sensex (+2.63%).
Technical momentum shifted from mildly bullish to bullish, with the stock trading above its 50-, 100-, and 200-day moving averages. The MACD indicator remained bullish on weekly and monthly charts, while Bollinger Bands suggested moderate volatility with a positive bias. However, short-term averages (5-day and 20-day) indicated some consolidation near recent highs.
This two-day rally accumulated an 11.26% return, highlighting a strong recovery from the prior day’s sharp decline. Despite this, the MarketsMOJO rating remained at Hold, reflecting caution amid mixed momentum signals and valuation concerns.
4 February 2026: Consolidation Amid Mixed Signals
On 4 February, Hindustan Zinc Ltd continued its upward trajectory, closing at Rs.639.15, up 1.73%. The stock maintained its position above key moving averages, reinforcing the medium- to long-term bullish trend. However, volume declined to 1.18 million shares, suggesting some profit booking or consolidation after the previous day’s strong gains.
The Sensex also gained modestly by 0.37%, indicating a generally positive market environment. Technical oscillators remained mixed, with RSI neutral and KST showing divergence between weekly bullishness and monthly caution. This day’s price action reflected a pause in momentum rather than a reversal.
5 February 2026: Sharp Gap Down and Intraday Low Amid Price Pressure
The stock faced significant selling pressure on 5 February, opening with a 6.02% gap down and hitting an intraday low of Rs.594.05, a 7.06% drop from the previous close. It closed at Rs.610.75, down 4.44%, underperforming both the Non-Ferrous Metals sector (-4.58%) and the Sensex (-0.53%).
This sharp decline reversed the prior three-day rally and was accompanied by elevated intraday volatility of 112.28%. The stock traded below its 5- and 20-day moving averages, signalling short-term weakness despite remaining above longer-term averages. Technical momentum indicators presented a cautious outlook, with mixed signals from MACD, KST, and Dow Theory assessments.
The high beta of 1.33 relative to the Sensex contributed to amplified price swings, reflecting the stock’s sensitivity to market sentiment and sector dynamics. The downgrade to Hold by MarketsMOJO and the elevated promoter share pledging ratio of 90.28% likely added to investor caution.
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6 February 2026: Week Closes with Mild Decline
On the final trading day of the week, Hindustan Zinc Ltd closed at Rs.608.95, down 0.29% from the previous day’s close. The stock’s volume declined further to 575,014 shares, reflecting subdued trading interest amid ongoing uncertainty. The Sensex gained a marginal 0.10%, closing at 36,730.20.
Technical indicators remained mixed, with the stock still above its 50-, 100-, and 200-day moving averages but below short-term averages. The week’s overall decline of 3.16% contrasted with the Sensex’s 1.51% gain, highlighting the stock’s relative underperformance amid volatile market conditions.
Key Takeaways
- Volatility dominated: Sharp intraday swings and gap moves reflected heightened uncertainty and sensitivity to market sentiment.
- Technical signals mixed: Medium- to long-term moving averages support a bullish trend, but short-term averages and momentum oscillators suggest consolidation or weakness.
- Rating downgrade: MarketsMOJO’s Hold rating reflects cautious sentiment amid valuation concerns and promoter share pledging risks.
- Sector and market context: The stock’s performance often diverged from the broader Non-Ferrous Metals sector and Sensex, indicating company-specific factors at play.
- Long-term strength: Despite short-term weakness, Hindustan Zinc Ltd has delivered strong returns over 1-, 3-, 5-, and 10-year horizons, outperforming the Sensex significantly.
Weekly Price Performance: Hindustan Zinc Ltd vs Sensex
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-02 | Rs.609.55 | -3.07% | 35,814.09 | -1.03% |
| 2026-02-03 | Rs.628.25 | +3.07% | 36,755.96 | +2.63% |
| 2026-02-04 | Rs.639.15 | +1.73% | 36,890.21 | +0.37% |
| 2026-02-05 | Rs.610.75 | -4.44% | 36,695.11 | -0.53% |
| 2026-02-06 | Rs.608.95 | -0.29% | 36,730.20 | +0.10% |
Overall, Hindustan Zinc Ltd’s week was marked by significant price fluctuations, with the stock underperforming the Sensex by approximately 4.67%. The sharp intraday moves and mixed technical signals suggest a market grappling with uncertainty, despite the company’s solid fundamentals and long-term growth record.
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