Is Elgi Equipments technically bullish or bearish?
As of November 7, 2025, Elgi Equipments shows a strong bearish trend, indicated by negative signals from MACD, Bollinger Bands, and moving averages, despite a mildly bullish signal from Dow Theory, and has underperformed against the Sensex.
As of 7 November 2025, the technical trend has changed from mildly bearish to bearish. The current technical stance for Elgi Equipments is bearish with a strong indication. Key indicators driving this stance include bearish signals from the MACD on both weekly and monthly time frames, bearish readings from Bollinger Bands, and a bearish moving average on the daily chart. Additionally, the KST is bearish on both weekly and monthly levels. Although the Dow Theory shows a mildly bullish signal on the weekly, it is outweighed by the overall bearish indicators. The stock has underperformed significantly compared to the Sensex over various time frames, further reinforcing the bearish outlook.
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