Inox Green Energy Services Ltd: Technical Momentum Shifts Amid Mixed Indicator Signals

Current Market Performance and Price Action

As of 13 Feb 2026, Inox Green Energy Services Ltd trades at ₹175.25, down 0.99% from the previous close of ₹177.00. The stock’s intraday range has fluctuated between ₹172.00 and ₹181.15, indicating moderate volatility. This price level remains significantly below its 52-week high of ₹279.00, while comfortably above the 52-week low of ₹95.65, suggesting a wide trading band over the past year.

Comparatively, the stock has underperformed the broader Sensex index over recent short-term periods. Over the past week, Inox Green declined by 0.88%, whereas the Sensex gained 0.43%. The one-month return shows a sharper divergence, with the stock falling 5.75% against a marginal 0.24% decline in the Sensex. Year-to-date, the stock is down 16.67%, significantly lagging the Sensex’s 1.81% loss. However, longer-term returns remain robust, with a 30.88% gain over one year and an impressive 271.69% over three years, far outpacing the Sensex’s respective 9.85% and 37.89% gains.

Technical Indicator Analysis: Mixed Signals Across Timeframes

The technical landscape for Inox Green Energy Services Ltd is nuanced, with several key indicators presenting conflicting signals that suggest a period of consolidation and uncertainty.

MACD (Moving Average Convergence Divergence): The weekly MACD remains bearish, indicating downward momentum in the near term. The monthly MACD is mildly bearish, signalling that the longer-term trend is also under pressure but not decisively negative. This divergence between weekly and monthly MACD readings points to a cautious outlook among traders.

RSI (Relative Strength Index): The weekly RSI is bullish, suggesting that the stock has some upward momentum and is not currently oversold. However, the monthly RSI shows no clear signal, reflecting a lack of strong directional conviction over the longer term.

Bollinger Bands: On a weekly basis, Bollinger Bands indicate a mildly bearish stance, with the stock price gravitating towards the lower band, hinting at potential downward pressure. Monthly Bollinger Bands are sideways, reinforcing the notion of a consolidating market without a clear trend.

Moving Averages: Daily moving averages are mildly bullish, suggesting short-term support for the stock price. This is consistent with the weekly KST (Know Sure Thing) indicator, which is also mildly bullish, signalling some positive momentum in the near term. However, the monthly KST is not providing a definitive trend signal.

Dow Theory and OBV (On-Balance Volume): Dow Theory analysis shows no clear trend on both weekly and monthly charts, indicating indecision among market participants. OBV is mildly bullish on the weekly chart, implying that volume supports some buying interest recently, but mildly bearish on the monthly chart, suggesting that longer-term volume trends are less favourable.

Mojo Score and Grade Update

MarketsMOJO assigns Inox Green Energy Services Ltd a Mojo Score of 34.0, reflecting a cautious stance on the stock’s prospects. The Mojo Grade was downgraded from a 'Strong Sell' to a 'Sell' on 6 Feb 2026, signalling a slight improvement but still indicating weak fundamentals or technical outlook. The Market Cap Grade stands at 3, suggesting a relatively small market capitalisation compared to larger peers, which may contribute to higher volatility and risk.

The downgrade in grade aligns with the technical trend shift from mildly bullish to sideways, underscoring the stock’s current phase of consolidation and uncertainty. Investors should be mindful of this transitional phase and monitor for clearer directional cues before committing to significant positions.

Long-Term Performance Context

Despite recent short-term weakness, Inox Green’s long-term performance remains impressive. The stock has delivered a 30.88% return over the past year and an extraordinary 271.69% over three years, vastly outperforming the Sensex’s 9.85% and 37.89% returns respectively. This strong historical performance highlights the company’s growth potential and resilience within the Other Utilities sector.

However, the recent technical signals and downgrade suggest that the stock may be entering a phase of consolidation or correction, which is not uncommon after such strong multi-year gains. Investors should weigh these factors carefully, balancing the stock’s growth history against current technical caution.

Investor Takeaway and Outlook

Inox Green Energy Services Ltd currently presents a mixed technical picture. The shift from a mildly bullish to a sideways trend, combined with bearish weekly MACD and Bollinger Bands signals, suggests caution in the near term. However, mildly bullish daily moving averages, weekly RSI, and OBV indicate some underlying support and potential for short-term rebounds.

Given the stock’s strong long-term returns and recent technical consolidation, investors may consider waiting for a clearer breakout or breakdown signal before increasing exposure. Monitoring key technical levels around ₹175 and observing changes in momentum indicators such as MACD and RSI will be critical in assessing the next directional move.

Additionally, the downgrade in Mojo Grade to 'Sell' reflects ongoing concerns about the stock’s fundamentals or market positioning, reinforcing the need for prudence. Investors seeking exposure to the Other Utilities sector might explore alternative opportunities with stronger technical and fundamental profiles.

Summary of Technical Indicators:

• Weekly MACD: Bearish
• Monthly MACD: Mildly Bearish
• Weekly RSI: Bullish
• Monthly RSI: No Signal
• Weekly Bollinger Bands: Mildly Bearish
• Monthly Bollinger Bands: Sideways
• Daily Moving Averages: Mildly Bullish
• Weekly KST: Mildly Bullish
• Monthly KST: No Signal
• Dow Theory (Weekly & Monthly): No Trend
• OBV Weekly: Mildly Bullish
• OBV Monthly: Mildly Bearish

In conclusion, while Inox Green Energy Services Ltd’s technical parameters reveal a complex and somewhat cautious outlook, the stock’s historical performance and sector positioning warrant close attention. Investors should remain vigilant for further technical developments and consider broader market conditions before making investment decisions.

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