Is Elgi Equipments technically bullish or bearish?

Nov 10 2025 08:10 AM IST
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As of November 7, 2025, Elgi Equipments is in a bearish trend across multiple time frames, with bearish signals from MACD, Bollinger Bands, and daily moving averages, despite a mildly bullish indication from Dow Theory, and it has underperformed the Sensex significantly with a year-to-date return of -17.60%.
As of 7 November 2025, the technical trend for Elgi Equipments has changed from mildly bearish to bearish. The current stance is bearish with a strong indication from multiple time frames. The MACD is bearish on both the weekly and monthly charts, and Bollinger Bands also reflect a bearish outlook in the same time frames. Daily moving averages confirm the bearish trend. Although the Dow Theory shows a mildly bullish signal on the weekly chart, it is outweighed by the overall bearish indicators. The stock has underperformed significantly compared to the Sensex over various periods, particularly with a year-to-date return of -17.60% versus the Sensex's +6.50%.
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