Is Shalby technically bullish or bearish?

Technical Trend Overview

As of 1 December 2025, Shalby's technical trend transitioned from a neutral sideways movement to a mildly bearish stance. This shift signals a subtle but notable change in market sentiment, suggesting that the stock may face downward pressure in the short to medium term. The mildly bearish classification indicates caution rather than a strong sell-off, implying that while the momentum is negative, it is not yet severe.

Key Technical Indicators

Several technical tools provide insight into Shalby's current market positioning:

• MACD (Moving Average Convergence Divergence): Both weekly and monthly MACD readings are mildly bearish, indicating that momentum is weakening and the stock may be losing upward strength.


• RSI (Relative Strength Index): The weekly and monthly RSI show no clear signal, suggesting that the stock is neither overbought nor oversold at present, which aligns with a cautious market stance.


• Bollinger Bands: Both weekly and monthly Bollinger Bands are bearish, signalling that price volatility is skewed towards the downside and the stock is trading near the lower band, a potential warning of further declines.


• Moving Averages: The daily moving averages present a mildly bullish signal, indicating some short-term support and potential for minor rebounds despite the broader bearish trend.


• KST (Know Sure Thing): Weekly KST is mildly bearish, and monthly KST is bearish, reinforcing the view that momentum is weakening over multiple time frames.


• Dow Theory: Both weekly and monthly interpretations are mildly bearish, suggesting that the overall market trend for Shalby is tilting downwards.


• OBV (On-Balance Volume): No discernible trend on weekly or monthly charts, indicating volume is not confirming either bullish or bearish price action decisively.

Price Action and Volatility

Shalby's current price stands at ₹207.35, slightly down from the previous close of ₹208.30. The stock's 52-week high is ₹274.50, while the 52-week low is ₹177.20, placing the current price closer to the lower end of its annual range. Today's trading range between ₹205.60 and ₹211.20 reflects moderate intraday volatility but no significant breakout or breakdown.

This proximity to the lower price band, combined with bearish Bollinger Bands, suggests that the stock is under pressure but has not yet breached critical support levels that might trigger sharper declines.

Comparative Performance Against Sensex

When analysing Shalby's returns relative to the benchmark Sensex, the stock has underperformed across multiple time horizons:

• Over the past week, Shalby declined by 0.6%, whereas the Sensex gained 0.87%.


• In the last month, Shalby fell sharply by 13.87%, contrasting with a 2.03% rise in the Sensex.


• Year-to-date, Shalby is down 10.43%, while the Sensex has advanced 9.60%.


• Over the past year, Shalby declined 7.27%, whereas the Sensex rose 7.32%.

Longer-term returns show a more balanced picture, with Shalby delivering a 36.82% gain over three years compared to the Sensex's 35.33%, and an 88.67% gain over five years against the Sensex's 91.78%. This indicates that while recent performance has been weak, the company has historically provided competitive returns.

Interpreting the Mixed Signals

The technical landscape for Shalby is characterised by a predominance of bearish signals on weekly and monthly charts, tempered by mildly bullish indications on daily moving averages. This divergence suggests that while the broader trend is negative, short-term price action may experience intermittent support or consolidation phases.

The absence of strong volume confirmation via OBV further complicates the picture, implying that neither buyers nor sellers are decisively dominating. The lack of RSI extremes also points to a market that is not yet oversold, leaving room for further downside or sideways movement.

Sector and Industry Context

As a hospital industry stock, Shalby operates in a sector often viewed as defensive, with demand less sensitive to economic cycles. However, sector-specific challenges such as regulatory changes, reimbursement pressures, or operational costs can influence stock performance. The recent technical weakness may reflect broader sector headwinds or company-specific concerns that investors should monitor closely.

Price Levels to Watch

Key support lies near the 52-week low of ₹177.20, which if breached decisively, could accelerate bearish momentum. Resistance is likely to be encountered near the 200-day moving average and the upper Bollinger Band, which currently act as barriers to upward price movement.

Investor Takeaway

Given the mildly bearish technical trend and underperformance relative to the Sensex in recent months, investors should approach Shalby with caution. The stock does not currently exhibit strong bullish momentum, and the risk of further declines cannot be discounted. However, the presence of short-term bullish signals and historical resilience suggests that opportunistic investors might consider monitoring for signs of a reversal or consolidation before committing fresh capital.

Conclusion: Mildly Bearish but Not Without Hope

In summary, Shalby's technical indicators collectively point to a mildly bearish outlook as of December 2025. The stock is facing downward pressure, reflected in key momentum indicators and relative price weakness against the broader market. Yet, the absence of extreme oversold conditions and some short-term bullish signals suggest that the stock is not in a freefall and may find support in the near term.

Investors should weigh these technical signals alongside fundamental analysis and sector trends before making decisions. Monitoring price action around critical support levels and watching for volume confirmation will be essential to gauge whether Shalby can stabilise or if further downside is likely.

Limited Time Only! Subscribe for Rs. 12,999 and get 1 Year of MojoOne + an Additional Year Completely FREE. Don't miss out on this exclusive offer. Claim Your Free Year →