Is Elgi Equipments technically bullish or bearish?

Nov 05 2025 08:32 AM IST
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As of November 4, 2025, Elgi Equipments has shifted to a bearish trend with moderate strength, driven by bearish signals from moving averages and Bollinger Bands, despite a mildly bullish weekly MACD, and has underperformed compared to the Sensex.
As of 4 November 2025, the technical trend for Elgi Equipments has changed from mildly bearish to bearish. The current stance is bearish with moderate strength. Key indicators driving this include the bearish signals from the daily moving averages and the weekly and monthly Bollinger Bands, along with the bearish KST readings across both time frames. Although the weekly MACD is mildly bullish, it is overshadowed by the overall bearish trend in the monthly indicators. The stock has also underperformed significantly compared to the Sensex over various periods, further supporting the bearish outlook.
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