As of 20 November 2025, Indigo Paints is trading at ₹1,286.80, down from the previous close of ₹1,325.75. The stock’s intraday range has been between ₹1,283.70 and ₹1,325.80, with a 52-week high of ₹1,524.95 and a low of ₹900.05. This price movement comes amid a day change of -2.94%, reflecting short-term volatility. The company’s market capitalisation grade stands at 3, indicating a mid-cap status within the paints industry.
Examining the technical indicators, the Moving Average Convergence Divergence (MACD) presents a mixed picture. On a weekly basis, the MACD is bullish, suggesting upward momentum in the near term. However, the monthly MACD remains mildly bearish, indicating that longer-term momentum has yet to fully align with the recent weekly trend. This divergence highlights the transitional phase Indigo Paints is currently undergoing.
The Relative Strength Index (RSI) further complicates the outlook. The weekly RSI is bearish, signalling that the stock may be experiencing short-term selling pressure or is approaching oversold conditions. Conversely, the monthly RSI does not provide a clear signal, suggesting a neutral stance over the longer horizon. This lack of monthly RSI direction underscores the need for cautious interpretation of short-term price movements.
Bollinger Bands, which measure price volatility and potential overbought or oversold conditions, show a mildly bullish signal on the weekly chart and a bullish signal on the monthly chart. This indicates that price volatility may be expanding with a tendency towards upward price movement over the medium term. The daily moving averages also support a bullish trend, reinforcing the notion of positive momentum in the short term.
Other technical tools such as the Know Sure Thing (KST) oscillator and On-Balance Volume (OBV) provide additional insight. The KST is bearish on both weekly and monthly timeframes, suggesting that momentum indicators are still under pressure. Meanwhile, the OBV is mildly bullish on the weekly scale but shows no trend on the monthly scale, indicating that volume-based momentum is tentative and not yet decisively supportive of a sustained rally.
The Dow Theory analysis aligns with these mixed signals, showing a mildly bullish trend on the weekly chart but no discernible trend on the monthly chart. This further emphasises the transitional nature of Indigo Paints’ technical profile, where short-term optimism is tempered by longer-term uncertainty.
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From a returns perspective, Indigo Paints has demonstrated a varied performance relative to the Sensex benchmark. Over the past week, the stock has recorded a return of 4.41%, significantly outpacing the Sensex’s 0.85% gain. The one-month return is even more pronounced at 24.97%, compared to the Sensex’s 1.47%. However, the year-to-date (YTD) return for Indigo Paints stands at -8.56%, contrasting with the Sensex’s positive 9.02% return. Over the last year, the stock has shown a negative return of -14.76%, while the Sensex has appreciated by 9.81%.
Looking further back, Indigo Paints’ three-year return is -3.74%, whereas the Sensex has delivered a robust 38.15% gain over the same period. Data for five- and ten-year returns for Indigo Paints is not available, but the Sensex’s five-year and ten-year returns are 95.38% and 229.64%, respectively. These figures illustrate that while Indigo Paints has outperformed the benchmark in the short term, its longer-term returns have lagged behind the broader market.
Such a performance profile may reflect sector-specific challenges or company-level factors impacting investor sentiment. The paints sector, known for its cyclical nature and sensitivity to raw material costs and demand fluctuations, often experiences periods of volatility that can influence technical indicators and price momentum.
Investors analysing Indigo Paints should consider the interplay of these technical signals alongside fundamental factors. The current mildly bullish technical trend on shorter timeframes suggests potential for near-term price support, but the mixed signals from monthly indicators and momentum oscillators warrant a measured approach.
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In summary, Indigo Paints is navigating a phase of technical transition with a shift towards mildly bullish momentum on weekly charts, supported by daily moving averages and Bollinger Bands. However, the presence of bearish signals in weekly RSI and KST indicators, alongside neutral monthly trends, suggests that the stock’s price action remains nuanced and subject to market fluctuations.
Market participants should weigh these technical factors carefully, recognising that the stock’s recent short-term gains contrast with its longer-term underperformance relative to the Sensex. This duality highlights the importance of a comprehensive analysis that integrates both technical momentum and broader market context when considering Indigo Paints within a portfolio.
As the paints sector continues to evolve amid changing economic conditions, Indigo Paints’ technical profile will likely remain dynamic. Monitoring shifts in momentum indicators and volume trends will be crucial for investors seeking to understand the stock’s trajectory in the coming months.
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