Recent Price Action and Market Context
KEI Industries Ltd, a prominent player in the Cables - Electricals sector, closed at ₹4,099.00 on 3 Feb 2026, marking a 3.02% increase from the previous close of ₹3,978.70. The stock traded within a range of ₹3,914.05 to ₹4,100.00 during the day, inching closer to its 52-week high of ₹4,588.15. This upward movement comes after a period of consolidation and reflects renewed buying interest.
Over the past week, KEI Industries has outperformed the Sensex significantly, delivering a 7.67% return compared to the Sensex’s modest 0.16%. However, the stock has experienced a 9.27% decline over the last month, slightly worse than the Sensex’s 4.78% drop, indicating some short-term volatility. Year-to-date, KEI is down 8.10%, underperforming the broader market’s 4.17% decline. Despite these fluctuations, the stock’s long-term performance remains impressive, with a five-year return of 741.25% versus the Sensex’s 64.00%, and a remarkable ten-year return of 3,606.15% compared to the Sensex’s 232.80%.
Technical Trend Shift: From Mildly Bearish to Mildly Bullish
The technical trend for KEI Industries has recently shifted from mildly bearish to mildly bullish, signalling a potential change in market sentiment. This shift is primarily driven by daily moving averages that have turned mildly bullish, suggesting that short-term momentum is gaining strength. The stock’s price currently trades above key daily moving averages, which often act as dynamic support levels, reinforcing the positive momentum.
However, the weekly and monthly MACD (Moving Average Convergence Divergence) indicators remain mildly bearish, indicating that the medium- and long-term momentum has yet to fully confirm a sustained uptrend. The MACD’s bearish stance on these timeframes suggests caution, as the stock may still face resistance or consolidation before a decisive breakout.
RSI and Bollinger Bands: Mixed Signals
The Relative Strength Index (RSI) on both weekly and monthly charts currently shows no clear signal, hovering in neutral territory. This lack of a definitive RSI signal implies that the stock is neither overbought nor oversold, providing room for further price movement in either direction without immediate risk of a reversal due to extreme conditions.
Bollinger Bands present a contrasting picture: while the weekly Bollinger Bands remain mildly bearish, indicating some short-term price pressure or volatility, the monthly Bollinger Bands have turned bullish. This divergence suggests that while short-term price swings may be choppy, the broader monthly trend is gaining upward traction, potentially signalling a longer-term recovery or rally.
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Additional Technical Indicators: KST, Dow Theory, and OBV
The Know Sure Thing (KST) indicator remains mildly bearish on both weekly and monthly timeframes, reinforcing the notion that momentum is still tentative and that investors should watch for confirmation before committing heavily. The Dow Theory analysis shows a mildly bearish trend on the weekly chart and no clear trend on the monthly chart, further underscoring the mixed technical landscape.
On-Balance Volume (OBV), a volume-based indicator used to confirm price trends, currently shows no discernible trend on either weekly or monthly charts. This absence of volume confirmation suggests that while price movements have been positive recently, they may not yet be supported by strong buying volume, which is critical for sustaining rallies.
Mojo Score Upgrade and Market Capitalisation
KEI Industries’ Mojo Score has improved to 72.0, earning a Buy grade as of 29 Jan 2026, upgraded from a previous Hold rating. This upgrade reflects a more favourable technical and fundamental outlook, signalling increased confidence among analysts and investors. The company holds a Market Cap Grade of 2, indicating a mid-sized market capitalisation relative to its peers in the Cables - Electricals sector.
The upgrade in Mojo Grade aligns with the recent price momentum and technical trend shift, suggesting that KEI Industries is entering a phase of renewed investor interest and potential price appreciation.
Long-Term Performance and Sector Positioning
KEI Industries has demonstrated exceptional long-term returns, outperforming the Sensex by a wide margin over five and ten years. This strong historical performance is a testament to the company’s robust fundamentals and leadership within the cables and electricals industry. Despite short-term volatility and mixed technical signals, the stock’s underlying strength remains intact.
Investors should consider KEI’s position within the broader electrical cables sector, which is poised for growth driven by infrastructure development and increased electrification initiatives across India. The company’s ability to maintain technological innovation and operational efficiency will be key to sustaining its market leadership.
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Investor Takeaway and Outlook
KEI Industries Ltd’s recent technical parameter changes highlight a cautious but positive shift in price momentum. The mildly bullish daily moving averages and monthly Bollinger Bands provide encouraging signs for near-term upside potential. However, the persistence of mildly bearish MACD and KST indicators on weekly and monthly charts, combined with neutral RSI and lack of volume confirmation, counsel prudence.
Investors should monitor key support levels around the daily moving averages and watch for a sustained breakout above the recent high of ₹4,100 to confirm a stronger bullish trend. Given the stock’s strong long-term fundamentals and sector tailwinds, KEI Industries remains an attractive candidate for investors with a medium- to long-term horizon, especially following its recent Mojo Grade upgrade to Buy.
In summary, while short-term volatility and mixed technical signals persist, the overall technical and fundamental landscape for KEI Industries is improving, signalling a potential inflection point for the stock’s price trajectory.
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