Marico Ltd. Technical Momentum Shifts to Mildly Bullish Amid Mixed Indicator Signals

Price Movement and Market Context

On 29 January 2026, Marico Ltd. closed at ₹736.55, down 1.25% from the previous close of ₹745.90. The stock traded within a range of ₹721.10 to ₹756.00 during the day, remaining below its 52-week high of ₹780.00 but comfortably above the 52-week low of ₹577.90. This price action reflects a short-term correction within a longer-term uptrend, as evidenced by the company’s impressive 10-year return of 246.20%, outperforming the Sensex’s 236.52% over the same period.

Technical Trend Evolution

Marico’s technical trend has shifted from bullish to mildly bullish, signalling a moderation in upward momentum. This change is corroborated by the daily moving averages, which currently indicate a mildly bullish stance, suggesting that while the stock remains in an uptrend, the pace of gains has slowed. The weekly and monthly technical indicators present a more mixed picture, reflecting the stock’s recent volatility and the broader market’s cautious sentiment.

MACD Analysis

The Moving Average Convergence Divergence (MACD) indicator remains bullish on the weekly timeframe, indicating that the medium-term momentum is still positive. However, the monthly MACD has turned mildly bearish, signalling potential weakening in longer-term momentum. This divergence between weekly and monthly MACD readings suggests that while short-term traders may find opportunities, longer-term investors should exercise caution and monitor for confirmation of trend direction.

RSI and Momentum Indicators

The Relative Strength Index (RSI) on both weekly and monthly charts currently shows no clear signal, hovering in neutral territory. This lack of extreme readings implies that the stock is neither overbought nor oversold, leaving room for either a continuation of the current trend or a reversal depending on forthcoming market catalysts.

Bollinger Bands and Volatility

Bollinger Bands on weekly and monthly timeframes are mildly bullish, indicating that price volatility remains contained within an upward channel. This suggests that despite recent price dips, the stock has not breached critical support levels and may be consolidating before a potential move higher.

Other Technical Indicators

The Know Sure Thing (KST) indicator aligns with the MACD, showing bullish momentum on the weekly chart but mildly bearish signals on the monthly chart. The Dow Theory readings are split, with weekly data mildly bearish and monthly data bullish, reflecting the stock’s current indecision between short-term correction and long-term strength. On-Balance Volume (OBV) also presents a mixed scenario, mildly bullish weekly but mildly bearish monthly, indicating that volume trends are not decisively supporting either direction.

Comparative Returns and Market Performance

Marico’s returns relative to the Sensex reveal a nuanced performance. Over the past week, the stock declined by 1.49%, underperforming the Sensex’s 0.53% gain. Similarly, the one-month return was -0.87% versus the Sensex’s -3.17%, and year-to-date return stands at -1.85% compared to the Sensex’s -3.37%. Despite these short-term underperformances, Marico has outpaced the benchmark over longer horizons, delivering 10.52% over one year against the Sensex’s 8.49%, 46.17% over three years versus 38.79%, and 78.82% over five years compared to 75.67% for the Sensex.

Mojo Score and Rating Update

MarketsMOJO has upgraded Marico Ltd.’s rating from Sell to Hold as of 9 December 2025, reflecting an improved but cautious outlook. The current Mojo Score stands at 60.0, indicating moderate confidence in the stock’s prospects. The Market Cap Grade remains low at 2, suggesting that while the company is established, it may not yet possess the scale to command a higher rating. This Hold rating aligns with the mixed technical signals and recent price momentum shifts, advising investors to maintain positions with vigilance rather than aggressively accumulate or divest.

Sector and Industry Context

Operating within the edible oil industry, Marico faces sector-specific challenges including commodity price fluctuations, regulatory changes, and evolving consumer preferences. The sector’s overall technical indicators have shown resilience, but Marico’s mildly bullish technical trend suggests it is navigating these headwinds with relative stability. Investors should consider sector dynamics alongside company-specific technicals when assessing Marico’s near-term outlook.

Investor Takeaway and Outlook

Marico Ltd.’s current technical profile suggests a stock in transition. The shift from bullish to mildly bullish momentum, combined with mixed signals from MACD, RSI, and other indicators, points to a period of consolidation or cautious trading. The absence of strong RSI signals implies that the stock is not yet poised for a decisive breakout or breakdown, making it essential for investors to monitor volume trends and moving average crossovers closely.

Long-term investors may find comfort in Marico’s robust historical returns and relative outperformance against the Sensex over multi-year periods. However, short-term traders should be wary of the recent price softness and the mildly bearish monthly MACD and KST indicators. The Hold rating from MarketsMOJO reflects this balanced view, recommending a wait-and-watch approach rather than aggressive buying or selling.

In summary, Marico Ltd. remains a fundamentally sound company with a solid track record, but its technical momentum is currently in a state of flux. Investors should weigh the mixed technical signals alongside broader market conditions and sector trends before making portfolio decisions.

Upgrade at special rates, valid only for the next few days. Claim Your Special Rate →