Jindal Drilling & Industries Ltd Sees Mixed Technical Signals Amid Price Momentum Shift

Price Movement and Market Context

On 29 Jan 2026, Jindal Drilling & Industries Ltd (stock code 359139) closed at ₹525.00, up from the previous close of ₹516.70. The intraday range saw a low of ₹520.65 and a high of ₹534.35, indicating moderate volatility. The stock remains significantly below its 52-week high of ₹990.50, while comfortably above its 52-week low of ₹490.05, suggesting a wide trading band over the past year.

Comparatively, the stock has outperformed the Sensex in the short term, delivering a 3.47% return over the past week against the Sensex’s 0.53%. However, longer-term returns paint a more mixed picture: a 1-month return of -5.67% versus Sensex’s -3.17%, and a year-to-date (YTD) decline of -8.50% compared to the Sensex’s -3.37%. Over a 1-year horizon, the stock has underperformed sharply with a -32.05% return, while the Sensex gained 8.49%. Yet, over 3, 5, and 10 years, Jindal Drilling has delivered robust cumulative returns of 101.30%, 537.52%, and 338.60% respectively, well ahead of the Sensex’s 38.79%, 75.67%, and 236.52% gains.

Technical Trend Analysis

The technical trend for Jindal Drilling has shifted from bearish to mildly bearish, signalling a tentative improvement but still reflecting underlying weakness. This nuanced stance is supported by a range of technical indicators across different timeframes.

The Moving Average Convergence Divergence (MACD) indicator presents a mixed signal: weekly charts show a mildly bullish stance, suggesting some upward momentum in the near term, while monthly charts remain mildly bearish, indicating longer-term caution. This divergence implies that while short-term momentum may be improving, the broader trend remains under pressure.

The Relative Strength Index (RSI) offers no clear signal on either weekly or monthly timeframes, hovering in neutral territory. This lack of directional momentum suggests the stock is neither overbought nor oversold, leaving room for potential directional moves but no definitive bias.

Bollinger Bands reinforce the cautious tone, with weekly readings mildly bearish and monthly readings outright bearish. This indicates that price volatility remains skewed towards downside risk over the longer term, despite some short-term stabilisation.

Moving Averages and Other Momentum Indicators

Daily moving averages remain bearish, signalling that the stock price is trading below key average levels, which typically suggests downward pressure. This is a critical factor for traders who rely on moving averages as dynamic support and resistance levels.

The Know Sure Thing (KST) indicator, which aggregates multiple rate-of-change measures, also presents a split view: weekly readings are mildly bullish, hinting at some short-term positive momentum, while monthly readings remain mildly bearish, consistent with the longer-term caution seen in other indicators.

Dow Theory analysis aligns with this mixed picture. Weekly trends are mildly bearish, reflecting recent price action, whereas monthly trends show no clear directional bias, indicating consolidation or indecision at a higher timeframe.

On-Balance Volume (OBV), a volume-based momentum indicator, is mildly bullish on the weekly chart, suggesting that buying volume is slightly outweighing selling pressure in the short term. However, monthly OBV shows no trend, reinforcing the notion of uncertainty over longer periods.

Mojo Score and Market Capitalisation Insights

Jindal Drilling & Industries Ltd currently holds a Mojo Score of 45.0, categorised as a Sell rating, downgraded from Hold on 26 May 2025. This downgrade reflects the deteriorating technical and fundamental outlook as assessed by MarketsMOJO’s proprietary scoring system. The company’s market cap grade stands at 3, indicating a mid-tier capitalisation within its sector.

The downgrade and relatively low Mojo Score suggest that investors should exercise caution, especially given the mixed technical signals and recent underperformance relative to the broader market.

Sector and Industry Context

Operating within the oil sector and industry, Jindal Drilling faces sector-specific headwinds including fluctuating crude prices, regulatory challenges, and global energy transition pressures. These factors contribute to the stock’s technical volatility and mixed momentum signals.

While the company’s long-term returns have been impressive, recent performance and technical indicators suggest that the stock is currently navigating a challenging phase, with neither clear bullish nor bearish dominance.

Investor Takeaway and Outlook

Jindal Drilling & Industries Ltd’s current technical profile is characterised by a delicate balance between short-term bullish signals and longer-term bearish pressures. The mildly bullish weekly MACD and KST indicators, alongside a mildly bullish weekly OBV, suggest some positive momentum may be building in the near term. However, the bearish daily moving averages, monthly MACD, and bearish Bollinger Bands caution against overly optimistic expectations.

Investors should note the stock’s recent downgrade to a Sell rating by MarketsMOJO, reflecting a more cautious stance amid mixed technical signals and sector headwinds. The absence of clear RSI signals further emphasises the stock’s current indecision phase.

Given the stock’s significant underperformance over the past year relative to the Sensex, alongside its strong long-term returns, the current period may represent a consolidation or correction phase. Investors with a longer-term horizon might view this as an opportunity to accumulate at lower levels, while short-term traders should remain vigilant for confirmation of trend direction before committing.

Overall, Jindal Drilling & Industries Ltd remains a stock with considerable historical growth but presently faces a technical environment that demands careful analysis and risk management.

Summary of Key Technical Indicators

• Technical Trend: Shifted from Bearish to Mildly Bearish


• MACD: Weekly Mildly Bullish, Monthly Mildly Bearish


• RSI: No Signal on Weekly and Monthly


• Bollinger Bands: Weekly Mildly Bearish, Monthly Bearish


• Moving Averages: Daily Bearish


• KST: Weekly Mildly Bullish, Monthly Mildly Bearish


• Dow Theory: Weekly Mildly Bearish, Monthly No Trend


• OBV: Weekly Mildly Bullish, Monthly No Trend

Price and Returns Overview

• Current Price: ₹525.00


• Previous Close: ₹516.70


• 52-Week High: ₹990.50


• 52-Week Low: ₹490.05


• 1 Week Return: +3.47% vs Sensex +0.53%


• 1 Month Return: -5.67% vs Sensex -3.17%


• Year-to-Date Return: -8.50% vs Sensex -3.37%


• 1 Year Return: -32.05% vs Sensex +8.49%


• 3 Year Return: +101.30% vs Sensex +38.79%


• 5 Year Return: +537.52% vs Sensex +75.67%


• 10 Year Return: +338.60% vs Sensex +236.52%

Final Assessment

While Jindal Drilling & Industries Ltd’s technical indicators present a mixed and somewhat cautious outlook, its long-term performance and sector positioning warrant close monitoring. Investors should weigh the mildly bullish short-term signals against the prevailing bearish longer-term trends and the recent downgrade in rating before making investment decisions.

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