Is Elgi Equipments technically bullish or bearish?

As of 14 July 2025, the technical trend for Elgi Equipments has changed from sideways to mildly bearish. The current stance is mildly bearish, driven by the daily moving averages indicating a bearish sentiment and the weekly RSI showing bearish momentum. While the weekly MACD is bullish, the monthly MACD and Bollinger Bands are mildly bearish, suggesting mixed signals across different time frames. The Dow Theory indicates no trend on the weekly chart but is mildly bullish on the monthly, adding to the complexity of the current outlook. Overall, the strength of the bearish stance is moderate, influenced by the recent price action and relative performance compared to the Sensex.