Price Movement and Market Context
On 1 February 2026, Jubilant Ingrevia closed at ₹635.00, marking a 2.01% increase from the previous close of ₹622.50. The stock traded within a range of ₹613.55 to ₹651.75 during the day, showing intraday volatility but ending on a positive note. However, the stock remains significantly below its 52-week high of ₹851.85 and above its 52-week low of ₹556.55, indicating a wide trading band over the past year.
Comparatively, the stock’s returns have lagged behind the broader Sensex index over multiple time horizons. Year-to-date, Jubilant Ingrevia has declined by 9.8%, while the Sensex has fallen by a lesser 3.46%. Over the past year, the stock is down 9.51%, contrasting with the Sensex’s 7.18% gain. Longer-term returns over three years show Jubilant Ingrevia up 34.28%, slightly trailing the Sensex’s 38.27% rise. This underperformance highlights challenges the company faces amid sectoral and macroeconomic headwinds.
Technical Trend Shift: From Bearish to Mildly Bearish
The technical trend for Jubilant Ingrevia has recently shifted from a clear bearish stance to a mildly bearish one, signalling a potential stabilisation but not yet a definitive recovery. This nuanced change is reflected across multiple timeframes and indicators, underscoring the stock’s current indecisive momentum.
On the weekly chart, the Moving Average Convergence Divergence (MACD) remains bearish, indicating that the short-term momentum is still under pressure. The monthly MACD, however, has improved to mildly bearish, suggesting that longer-term selling pressure may be easing. The Relative Strength Index (RSI) on the weekly timeframe has turned bullish, signalling that the stock is gaining some upward momentum in the short term, although the monthly RSI remains neutral with no clear signal.
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Bollinger Bands and Moving Averages Indicate Caution
Bollinger Bands, which measure volatility and potential price extremes, present a mixed picture. On the weekly timeframe, the bands are mildly bearish, suggesting that the stock price is closer to the lower band and may face downward pressure. The monthly Bollinger Bands are outright bearish, reinforcing the longer-term caution among investors.
Daily moving averages continue to signal bearishness, with the stock trading below key averages such as the 50-day and 200-day moving averages. This technical positioning implies that the prevailing trend remains downward in the short term, and any rallies may face resistance near these averages.
KST and Dow Theory: Divergent Signals
The Know Sure Thing (KST) indicator, which aggregates multiple rate-of-change measures, shows a mildly bullish signal on the weekly chart, hinting at some positive momentum building in the near term. Conversely, the monthly KST remains mildly bearish, reflecting ongoing uncertainty in the broader trend.
Dow Theory analysis aligns with this mixed scenario. The weekly Dow Theory trend is mildly bearish, indicating that the stock has not yet confirmed a sustained upward trend. The monthly Dow Theory shows no clear trend, underscoring the indecision among market participants over the longer horizon.
On-Balance Volume (OBV) Suggests Divergence
Volume-based indicators provide additional insight into the stock’s momentum. The weekly OBV is mildly bearish, suggesting that volume on down days slightly outweighs volume on up days, which can be a warning sign for bulls. However, the monthly OBV is bullish, indicating that longer-term accumulation may be occurring despite short-term selling pressure.
Mojo Score and Ratings Reflect Cautious Sentiment
MarketsMOJO assigns Jubilant Ingrevia a Mojo Score of 45.0, placing it in the ‘Sell’ category, a downgrade from its previous ‘Hold’ rating as of 12 January 2026. This change reflects the deteriorating technical and fundamental outlook. The company’s Market Cap Grade stands at 3, indicating a mid-tier market capitalisation relative to peers in the Specialty Chemicals sector.
The downgrade signals that investors should exercise caution, as the stock’s technical indicators and price momentum do not currently support a strong buy thesis. The mixed signals across timeframes and indicators suggest that while some short-term rallies may occur, the overall trend remains under pressure.
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Sector and Industry Context
Jubilant Ingrevia operates within the Specialty Chemicals industry, a sector that has faced volatility due to fluctuating raw material costs, regulatory challenges, and global demand uncertainties. The company’s technical challenges mirror broader sectoral pressures, with many peers also exhibiting mixed momentum and cautious technical setups.
Investors should weigh Jubilant Ingrevia’s technical signals against sector trends and macroeconomic factors, including commodity price movements and export demand, which can materially impact earnings and stock performance.
Investor Takeaway
While Jubilant Ingrevia’s recent price increase and weekly RSI bullishness offer some optimism, the prevailing technical landscape remains cautious. The combination of bearish daily moving averages, mixed MACD readings, and bearish Bollinger Bands on monthly charts suggests that the stock is yet to establish a sustained upward trend.
Investors should monitor key technical levels, including the 50-day and 200-day moving averages, for signs of a confirmed trend reversal. Additionally, volume patterns and momentum indicators such as the KST and OBV will be critical in assessing whether the current mild bullish signals can translate into a more robust recovery.
Given the current Mojo Grade of ‘Sell’ and the downgrade from ‘Hold’, a conservative approach is advisable. Investors may consider waiting for clearer confirmation of trend improvement before increasing exposure, or alternatively, explore peer stocks with stronger technical profiles within the Specialty Chemicals sector.
Conclusion
Jubilant Ingrevia Ltd’s technical parameters reveal a stock at a crossroads, with a shift from bearish to mildly bearish momentum accompanied by mixed signals across key indicators. While short-term bullishness is emerging, longer-term trends remain uncertain, warranting a cautious stance from investors. The company’s recent downgrade in Mojo Grade underscores the need for careful analysis and monitoring of evolving technical developments before committing to new positions.
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