Key Events This Week
19 Jan: Intraday high surge and heavy volume amid sector outperformance
20 Jan: Robust trading activity with exceptional delivery volume spike
21 Jan: Continued strong gains despite mixed market sentiment
22 Jan: Price correction amid broader market rebound
23 Jan: Week closes with a mild decline, maintaining overall weekly gains
19 January 2026: Intraday Surge and Heavy Trading Volume
Jindal Saw Ltd began the week with a remarkable rally, surging 15.79% to close at ₹179.30, significantly outperforming the Sensex which fell 0.49% to 36,650.97. The stock hit an intraday high of ₹168.80, reflecting an 8.17% intraday gain, and demonstrated elevated volatility of 11.47%. Trading volume was exceptional, with over 1 crore shares exchanging hands, translating to a traded value of approximately ₹169.8 crores. Institutional interest was evident as delivery volumes surged 137% compared to the five-day average, signalling genuine accumulation.
Technically, the stock moved above its 5-day, 20-day, and 50-day moving averages, indicating short- to medium-term strength, though it remained below longer-term resistance levels. Despite the positive price action, the company reported mixed quarterly results with a 24.9% decline in PAT to ₹257.99 crores, reflecting margin pressures and liquidity constraints. The MarketsMOJO rating remained cautious with a Mojo Score of 31.0 and a Sell grade, albeit upgraded from Strong Sell.
20 January 2026: Sustained Momentum Amid Sector Weakness
The momentum continued on 20 January as Jindal Saw Ltd gained 4.21% to close at ₹186.85, outperforming the Iron & Steel Products sector which declined 0.43% and the Sensex which fell 1.82%. The stock traded with robust liquidity, recording a volume of 1.86 crore shares and a traded value exceeding ₹343.5 crores. Delivery volumes soared by over 1,200%, underscoring strong investor conviction and accumulation.
Price action remained bullish with the stock trading above its 5-day, 20-day, 50-day, and 100-day moving averages, though still below the 200-day average. Technical indicators showed a complex picture with a shift from bearish to mildly bearish trends, and mixed signals from MACD and Bollinger Bands across timeframes. Despite these nuances, the stock’s short-term outlook appeared positive, supported by rising institutional participation and improved market sentiment.
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21 January 2026: Robust Trading Amid Mixed Market Sentiment
On 21 January, Jindal Saw Ltd continued its strong run, closing at ₹193.60, up 3.61% on the day. The stock recorded a traded volume of 1.93 crore shares and a turnover of ₹365.5 crores, maintaining its position as one of the most actively traded stocks by value. Despite a cautious broader market with the Sensex down 0.47%, the stock outperformed both the sector and benchmark indices.
Technical momentum remained positive with the stock trading above key moving averages except the 200-day average, which still posed resistance. Delivery volumes remained elevated, increasing 175.78% compared to the five-day average, signalling sustained accumulation by long-term investors. The stock’s three-day consecutive gains amounted to a cumulative 24.46% return, reflecting strong short-term bullishness despite mixed fundamental signals.
22 January 2026: Price Correction Amid Market Rebound
Jindal Saw Ltd experienced a mild correction on 22 January, falling 2.87% to close at ₹188.05 as the broader market rebounded with the Sensex gaining 0.76%. The stock’s volume declined to 1.41 million shares, indicating reduced trading activity. The price retracement followed a strong rally, suggesting profit booking or technical consolidation near resistance levels.
Despite the dip, the stock remained above its 5-day, 20-day, and 50-day moving averages, maintaining short-term support. The correction was in line with typical market dynamics after a sharp advance, and the stock’s relative strength versus the Sensex remained intact.
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23 January 2026: Week Closes with Mild Decline
The week ended with a 5.50% decline on 23 January, as Jindal Saw Ltd closed at ₹177.70 on relatively low volume of 530,510 shares. The Sensex also declined 1.33%, closing at 35,609.90. The stock’s pullback after a strong rally suggests short-term profit-taking and technical resistance near recent highs.
Despite the day’s loss, the stock’s weekly performance remained robust with a 14.76% gain, significantly outperforming the Sensex’s 3.31% decline. The correction may provide a consolidation phase before the stock attempts to challenge longer-term resistance levels such as the 200-day moving average.
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-01-19 | Rs.179.30 | +15.79% | 36,650.97 | -0.49% |
| 2026-01-20 | Rs.186.85 | +4.21% | 35,984.65 | -1.82% |
| 2026-01-21 | Rs.193.60 | +3.61% | 35,815.26 | -0.47% |
| 2026-01-22 | Rs.188.05 | -2.87% | 36,088.66 | +0.76% |
| 2026-01-23 | Rs.177.70 | -5.50% | 35,609.90 | -1.33% |
Key Takeaways
Strong Weekly Outperformance: Jindal Saw Ltd’s 14.76% weekly gain dwarfed the Sensex’s 3.31% decline, highlighting the stock’s resilience amid a weak broader market.
Heavy Trading and Institutional Interest: Exceptional volume and delivery volume spikes on 19 and 20 January signalled genuine accumulation, supporting the price rally.
Mixed Fundamentals and Technical Signals: Despite margin pressures and a cautious Mojo Sell rating, the stock showed short- to medium-term technical strength, trading above key moving averages but facing resistance at the 200-day level.
Volatility and Profit Taking: The late-week price correction and volume decline suggest profit booking and technical consolidation after a sharp advance.
Sector and Market Context: The iron and steel products sector faced headwinds, but Jindal Saw’s relative strength indicates company-specific factors driving investor interest.
Conclusion
Jindal Saw Ltd’s week was characterised by a robust price rally driven by heavy trading volumes, institutional accumulation, and a shift in technical momentum despite ongoing fundamental challenges. The stock’s ability to outperform the Sensex by over 18% during a broadly weak market underscores its distinct trading dynamics. However, the mixed technical signals and cautious Mojo Sell rating advise prudence, especially as the stock faces resistance near its 200-day moving average. Investors should monitor upcoming quarterly results, sector developments, and volume trends to assess whether the current momentum can be sustained or if consolidation will prevail. Overall, the week’s activity positions Jindal Saw Ltd as a notable small-cap equity exhibiting both opportunity and risk within the iron and steel products sector.
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