Key Events This Week
23 Feb: Stock opened at Rs.1,217.00, marginal gain of +0.01%
24 Feb: New 52-week high of Rs.1,238 and all-time high near Rs.1,232.5
25 Feb: Fresh 52-week and all-time high at Rs.1,249.95; sharp open interest surge
26 Feb: New 52-week high of Rs.1,270; slight intraday dip
27 Feb: Week closes at Rs.1,244.65, down 1.27% on the day
Monday, 23 February 2026: Steady Start Amid Positive Market
Jindal Steel Ltd. opened the week at Rs.1,217.00, registering a modest gain of 0.01% on the day. The Sensex outperformed with a 0.39% rise, closing at 36,817.86. Trading volume was robust at 71,008 shares, signalling steady investor interest. The stock remained above key moving averages, setting the stage for the week’s subsequent momentum.
Tuesday, 24 February 2026: New 52-Week and All-Time Highs Amid Market Weakness
On 24 February, Jindal Steel Ltd. surged to a new 52-week high of Rs.1,238 and touched an all-time high near Rs.1,232.5, closing with a strong 1.32% gain despite the Sensex falling 0.78%. This divergence highlighted the stock’s relative strength within a broadly weaker market. The stock’s three-day consecutive gain streak culminated in a cumulative 2.13% return, supported by technical indicators showing the price trading above all major moving averages. The Mojo Score remained steady at 58.0, reflecting a Hold rating upgraded from Sell in November 2025.
Wednesday, 25 February 2026: Fresh Highs and Sharp Open Interest Surge
Jindal Steel Ltd. extended its rally, hitting a new 52-week and all-time high of Rs.1,249.95. The stock gained 2.75% on the day, outperforming the Sensex’s 0.41% rise. Notably, open interest in derivatives surged by 17.89% to 22,486 contracts, signalling increased market activity and fresh long positions. Futures volume was strong at 15,741 contracts, with combined futures and options value exceeding ₹26,760 lakhs. Despite a slight underperformance relative to the sector by 0.29%, the stock’s technical momentum remained robust, trading above all key moving averages. Intraday volatility was elevated at 41.4%, reflecting active trading and dynamic price discovery.
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Thursday, 26 February 2026: New 52-Week High Amid Slight Pullback
Jindal Steel Ltd. reached a fresh 52-week high of Rs.1,270, marking a 65.6% rise from its 52-week low of Rs.770. Despite this milestone, the stock closed slightly lower by 0.50% at Rs.1,260.65. The Sensex gained 0.19% on the day, closing at 36,748.49. The stock’s narrow trading range of Rs.10.6 suggested consolidation after four consecutive days of gains. Technical indicators remained positive with the price above all major moving averages. The Mojo Score was marginally revised to 56.0 but retained a Hold rating, reflecting cautious optimism amid elevated valuations.
Friday, 27 February 2026: Profit Taking Leads to Minor Decline
The week concluded with Jindal Steel Ltd. closing at Rs.1,244.65, down 1.27% on the day amid a broader market sell-off where the Sensex fell 1.16%. Trading volume declined sharply to 12,407 shares, indicating reduced participation. Despite the pullback, the stock maintained a weekly gain of 2.28%, significantly outperforming the Sensex’s 0.96% loss. The minor correction may reflect profit booking after a strong rally, but the stock’s position above key moving averages suggests underlying strength remains intact.
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Weekly Price Performance: Jindal Steel Ltd. vs Sensex
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-23 | Rs.1,217.00 | +0.01% | 36,817.86 | +0.39% |
| 2026-02-24 | Rs.1,233.10 | +1.32% | 36,530.09 | -0.78% |
| 2026-02-25 | Rs.1,266.95 | +2.75% | 36,679.75 | +0.41% |
| 2026-02-26 | Rs.1,260.65 | -0.50% | 36,748.49 | +0.19% |
| 2026-02-27 | Rs.1,244.65 | -1.27% | 36,322.56 | -1.16% |
Key Takeaways: Strengths and Cautionary Signals
Positive Factors: Jindal Steel Ltd. demonstrated consistent price appreciation throughout the week, hitting multiple 52-week and all-time highs, supported by strong technical momentum and rising open interest in derivatives. The stock outperformed the Sensex by over 3 percentage points, reflecting robust relative strength. The Mojo Score upgrade to Hold and sustained trading above all major moving averages underscore a positive market perception and technical foundation. The ferrous metals sector’s recent gains provided a supportive backdrop for the stock’s advance.
Cautionary Signals: Despite the strong rally, valuation metrics have shifted to an expensive rating, with a P/E ratio of 39.62 and elevated EV/EBITDA multiples, suggesting limited margin for error in earnings growth. The decline in delivery volumes and the minor pullback on the final trading day indicate some profit booking and speculative trading activity. The Hold Mojo Grade advises a measured approach, especially given the cyclical nature of the steel industry and sensitivity to commodity price fluctuations.
Conclusion: A Week Marked by Milestones and Measured Momentum
Jindal Steel Ltd.’s performance over the week ending 27 February 2026 highlights a stock in strong technical form, achieving multiple new highs and demonstrating resilience amid a mixed market environment. The surge in open interest and sustained volume underpin the positive momentum, while the upgraded Mojo Score reflects improved fundamentals and market sentiment. However, elevated valuation levels and recent profit-taking suggest investors should remain cautious and monitor sector dynamics closely. Overall, Jindal Steel continues to lead within the ferrous metals sector, balancing robust price gains with a prudent outlook.
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