Mangalore Refinery & Petrochemicals Ltd. Technical Momentum Shifts Signal Bullish Outlook

Price Momentum and Recent Market Performance

MRPL’s current market price stands at ₹163.90, up from the previous close of ₹156.30, marking a robust day change of 4.86%. The stock traded within a range of ₹153.90 to ₹169.55 today, inching closer to its 52-week high of ₹185.00, while comfortably above its 52-week low of ₹98.95. This price action reflects a strong recovery and growing bullish sentiment among market participants.

Comparatively, MRPL has outperformed the broader Sensex index across multiple time frames. Over the past week, the stock surged 7.72% against Sensex’s modest 0.53% gain. The one-month return for MRPL is an impressive 13.11%, while the Sensex declined by 3.17%. Year-to-date, MRPL has appreciated 7.69%, contrasting with a 3.37% fall in the Sensex. Over longer horizons, MRPL’s returns have been even more compelling, with a 33.09% gain over one year versus Sensex’s 8.49%, and a staggering 335.90% over five years compared to Sensex’s 75.67%.

Technical Indicator Analysis: MACD, RSI, and Moving Averages

The Moving Average Convergence Divergence (MACD) indicator presents a nuanced picture. On a weekly basis, the MACD remains mildly bearish, suggesting some short-term caution. However, the monthly MACD has turned bullish, indicating that the longer-term momentum is strengthening. This divergence between weekly and monthly MACD readings often precedes a sustained upward trend as short-term consolidation gives way to broader market confidence.

The Relative Strength Index (RSI) currently shows no definitive signal on both weekly and monthly charts. This neutral RSI reading suggests that the stock is neither overbought nor oversold, providing room for further upward movement without immediate risk of a correction. Investors should monitor RSI closely in the coming weeks for any shifts that might indicate momentum exhaustion or acceleration.

Daily moving averages have turned bullish, reinforcing the positive price momentum. The stock’s price is trading above its key short-term and medium-term moving averages, signalling strong buying interest. This alignment of moving averages typically acts as a support base, reducing downside risk and encouraging accumulation by technical traders.

Bollinger Bands and Other Technical Signals

Bollinger Bands on both weekly and monthly charts are bullish, indicating that MRPL’s price is trending near the upper band. This suggests increased volatility with a positive bias, often interpreted as a sign of strong momentum and potential continuation of the uptrend. The On-Balance Volume (OBV) indicator also supports this view, showing bullish readings on weekly and monthly timeframes, which confirms that volume is flowing into the stock alongside price gains.

However, the Know Sure Thing (KST) oscillator remains mildly bearish on both weekly and monthly charts, signalling some caution. This indicator’s current stance may reflect short-term profit-taking or consolidation phases within the broader bullish trend. Similarly, Dow Theory assessments are mildly bullish weekly but mildly bearish monthly, highlighting a mixed but generally positive technical environment.

Mojo Score Upgrade and Market Capitalisation Insights

Reflecting the improved technical outlook, MarketsMOJO has upgraded MRPL’s Mojo Grade from Hold to Buy as of 27 January 2026, with a current Mojo Score of 70.0. This upgrade signals enhanced confidence in the stock’s near-term prospects based on a comprehensive analysis of price momentum, volume trends, and fundamental factors. The company holds a Market Cap Grade of 3, indicating a mid-tier capitalisation within the oil sector, which may appeal to investors seeking growth potential with moderate liquidity.

The upgrade is timely given MRPL’s recent price strength and technical signals, positioning it favourably against peers in the oil industry. The stock’s ability to outperform the Sensex consistently over multiple time frames further validates the positive revision in its rating.

Sector Context and Comparative Performance

Within the oil sector, MRPL’s technical momentum stands out as particularly robust. The sector has experienced volatility amid fluctuating crude oil prices and geopolitical uncertainties, yet MRPL’s technical indicators suggest resilience and potential for sustained gains. Its bullish moving averages and supportive volume trends contrast with some peers that remain range-bound or technically weak.

Investors should note that while the broader oil sector faces cyclical headwinds, MRPL’s improving technical profile and strong relative returns offer a compelling case for inclusion in portfolios seeking exposure to energy equities with growth momentum.

Risks and Considerations

Despite the encouraging technical signals, some caution is warranted. The mildly bearish weekly MACD and KST indicators suggest that short-term pullbacks or consolidation phases could occur. Additionally, the neutral RSI readings imply that the stock is not yet overextended but could face resistance near its 52-week high of ₹185.00. Market participants should monitor these technical levels closely and consider broader macroeconomic factors impacting the oil industry, including crude price volatility and regulatory developments.

Conclusion: Technical Momentum Favouring Bullish Continuation

In summary, Mangalore Refinery & Petrochemicals Ltd. is exhibiting a clear shift towards a bullish technical regime, supported by an upgraded Mojo Grade and strong price momentum. The alignment of daily moving averages, bullish Bollinger Bands, and positive OBV readings underpin the stock’s upward trajectory. While some oscillators suggest mild caution, the overall technical landscape favours further gains, especially if MRPL can sustain momentum above key resistance levels.

Investors seeking exposure to the oil sector with a blend of growth and technical strength should consider MRPL’s evolving profile. The stock’s consistent outperformance relative to the Sensex and its improved technical ratings make it a noteworthy candidate for portfolios focused on momentum-driven opportunities within energy equities.

Unlock special upgrade rates for a limited period. Start Saving Now →