Technical Trend Overview
As of 6 Feb 2026, Nahar Spinning Mills Ltd (stock code 464978) trades at ₹182.70, down 2.46% from the previous close of ₹187.30. The stock’s 52-week high stands at ₹311.00, while the low is ₹150.00, indicating a wide trading range over the past year. The technical trend has shifted from mildly bearish to bearish, reflecting increased selling pressure and weakening price momentum.
On the daily chart, moving averages confirm a bearish stance, with the stock price currently below key averages, signalling downward momentum. The weekly and monthly MACD indicators remain bearish, reinforcing the negative momentum. Meanwhile, the RSI on both weekly and monthly timeframes shows no clear signal, suggesting the stock is neither oversold nor overbought, but lacks strong directional conviction.
MACD and Momentum Analysis
The Moving Average Convergence Divergence (MACD) is a crucial momentum indicator that helps identify trend direction and strength. For Nahar Spinning Mills, the weekly and monthly MACD readings are bearish, indicating that the short-term moving average is below the long-term moving average and that downward momentum is prevailing. This bearish MACD alignment suggests that the stock may continue to face selling pressure in the near term.
Complementing this, the KST (Know Sure Thing) indicator also signals bearish momentum on both weekly and monthly charts, further confirming the weakening trend. The Dow Theory assessment is mildly bearish on the weekly timeframe but shows no definitive trend on the monthly scale, highlighting some uncertainty in the broader market context.
RSI and Bollinger Bands Insights
The Relative Strength Index (RSI) is neutral on both weekly and monthly charts, indicating that the stock is not currently in an overbought or oversold condition. This neutrality suggests that while the stock is under pressure, it has not yet reached extreme levels that might prompt a technical rebound.
Bollinger Bands, which measure volatility and potential price reversals, are mildly bearish on both weekly and monthly timeframes. The stock price is closer to the lower band, signalling increased volatility and a potential continuation of the downward trend unless a reversal catalyst emerges.
Volume and On-Balance Volume (OBV) Signals
Interestingly, the On-Balance Volume (OBV) indicator shows a mildly bullish signal on both weekly and monthly charts. This divergence between price momentum and volume suggests that while prices are declining, accumulation by some investors may be occurring. Such a scenario can sometimes precede a consolidation phase or a potential reversal if buying interest strengthens.
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Moving Averages and Daily Price Action
The daily moving averages for Nahar Spinning Mills are firmly bearish, with the stock price trading below the 50-day and 200-day averages. This technical setup typically signals sustained downward pressure and a lack of short-term buying interest. The stock’s intraday range on 6 Feb 2026 was between ₹182.60 and ₹187.65, showing limited upward recovery attempts during the session.
Such price action, combined with the bearish moving averages, suggests that traders remain cautious, and the stock may face resistance near the previous close of ₹187.30. Investors should watch for a decisive break above these averages to signal a potential trend reversal.
Comparative Returns and Market Context
When analysing Nahar Spinning Mills’ returns relative to the broader Sensex index, the stock has underperformed over most timeframes. Over the past week, the stock gained 9.04%, significantly outperforming the Sensex’s 0.91% rise. However, over one month, the stock declined by 6.79%, compared to the Sensex’s 2.49% fall, indicating greater volatility and downside risk.
Year-to-date, Nahar Spinning Mills is down 4.47%, while the Sensex has declined 2.24%. Over the past year and three years, the stock has underperformed substantially, with returns of -20.77% and -23.43% respectively, against Sensex gains of 6.44% and 36.94%. Despite this, the five-year return of 121.72% surpasses the Sensex’s 64.22%, reflecting strong long-term growth potential. The ten-year return of 78.07% lags the Sensex’s 238.44%, highlighting the stock’s cyclical challenges within the Garments & Apparels sector.
Mojo Score and Rating Upgrade
MarketsMOJO has upgraded Nahar Spinning Mills’ Mojo Grade from Sell to Hold as of 4 Feb 2026, reflecting a cautious improvement in the stock’s outlook. The current Mojo Score stands at 51.0, signalling a neutral stance. The Market Cap Grade is 4, indicating a mid-sized company with moderate liquidity and market presence.
This upgrade suggests that while the stock remains under pressure technically, there are signs of stabilisation that may warrant a wait-and-watch approach rather than outright selling. Investors should consider this rating in conjunction with the bearish technical signals and the stock’s recent price action.
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Investor Takeaway and Outlook
In summary, Nahar Spinning Mills Ltd is currently navigating a challenging technical landscape. The bearish MACD, KST, and moving averages point to continued downward momentum, while neutral RSI and mildly bullish OBV suggest some underlying accumulation. The stock’s recent downgrade in price and technical trend from mildly bearish to bearish warrants caution.
Investors should monitor key support levels near the 52-week low of ₹150.00 and watch for any bullish divergences or breakouts above moving averages that could signal a reversal. Given the mixed signals and the recent Mojo Grade upgrade to Hold, a balanced approach combining technical analysis with fundamental review is advisable.
Long-term investors may find value in the stock’s strong five-year returns, but short-term traders should remain vigilant for further technical deterioration or confirmation of a trend reversal.
Sector and Market Considerations
The Garments & Apparels sector remains sensitive to global demand fluctuations and raw material price volatility. Nahar Spinning Mills’ performance should be analysed in the context of sector trends and broader market movements. The Sensex’s relative stability compared to the stock’s volatility highlights the importance of diversification and peer comparison in portfolio construction.
Conclusion
Nahar Spinning Mills Ltd’s technical parameters reveal a stock in transition, with bearish momentum dominating but some signs of potential support emerging. The upgrade in Mojo Grade to Hold reflects this nuanced outlook. Investors should weigh the bearish technical signals against the stock’s historical performance and sector dynamics before making investment decisions.
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