Price Movement and Market Context
On 29 January 2026, NHPC Ltd’s share price closed at ₹78.91, up from the previous close of ₹75.21, marking a robust intraday gain of nearly 5%. The stock traded within a range of ₹75.22 to ₹79.11, approaching its 52-week high of ₹92.30, while comfortably above its 52-week low of ₹71.01. This recent price momentum contrasts with the broader market, as the Sensex showed a modest gain of 0.53% over the past week, whereas NHPC outperformed with a 3.57% weekly return.
Over longer horizons, NHPC’s returns have been impressive relative to the Sensex. The stock has delivered 7.98% over the past year, slightly trailing the Sensex’s 8.49%, but has outpaced the benchmark significantly over three, five, and ten-year periods with returns of 82.24%, 242.34%, and 289.68% respectively, compared to the Sensex’s 38.79%, 75.67%, and 236.52%. This long-term outperformance highlights NHPC’s resilience and growth potential within the power sector.
Technical Trend Analysis: A Shift to Mildly Bearish
Recent technical assessments indicate a shift in NHPC’s trend from outright bearish to mildly bearish. This subtle change suggests that while downward pressures have eased, the stock has yet to establish a clear bullish trajectory. The daily moving averages remain mildly bearish, signalling that short-term momentum is still cautious. The stock’s current price is hovering near key moving average levels, which may act as resistance or support depending on forthcoming market dynamics.
Weekly and monthly technical indicators present a mixed picture. The Moving Average Convergence Divergence (MACD) is mildly bullish on the weekly chart, indicating some positive momentum building in the short term. However, the monthly MACD remains mildly bearish, reflecting longer-term caution among investors. This divergence between weekly and monthly MACD readings suggests that while short-term traders may find opportunities, longer-term investors should remain vigilant.
Momentum and Oscillator Indicators
The Relative Strength Index (RSI) on both weekly and monthly timeframes currently shows no definitive signal, hovering in neutral zones. This lack of extreme RSI readings implies that NHPC is neither overbought nor oversold, leaving room for potential directional moves based on upcoming catalysts.
Bollinger Bands provide further insight, with weekly readings mildly bearish and monthly readings firmly bearish. The stock price is approaching the upper band on the weekly chart, which could indicate short-term resistance and potential consolidation. On the monthly scale, the bearish Bollinger Bands suggest that volatility remains elevated and downside risks persist over the medium term.
Volume and Trend Confirmation
Volume-based indicators such as the On-Balance Volume (OBV) are mildly bearish on both weekly and monthly charts, signalling that volume trends have not yet confirmed a sustained upward move. Similarly, the Know Sure Thing (KST) oscillator is bearish weekly and mildly bearish monthly, reinforcing the cautious stance among market participants.
Dow Theory assessments align with these findings, showing mildly bearish trends on both weekly and monthly timeframes. This suggests that the broader market sentiment for NHPC remains tentative, with neither clear accumulation nor distribution phases dominating.
This week's revealed pick, a Large Cap from Public Banks with TARGET PRICE, is already showing movement! Get the complete analysis before it's too late.
- - Target price included
- - Early movement detected
- - Complete analysis ready
Mojo Score and Market Capitalisation Insights
NHPC’s current Mojo Score stands at 35.0, reflecting a Sell rating, a downgrade from its previous Hold grade as of 11 November 2025. This downgrade signals a deterioration in the stock’s technical and fundamental outlook according to MarketsMOJO’s proprietary scoring system. The company’s market capitalisation grade is rated 2, indicating a mid-cap status with moderate liquidity and market presence.
The downgrade to Sell is consistent with the mildly bearish technical trend and the mixed signals from momentum indicators. Investors should weigh these factors carefully, especially given the stock’s recent price volatility and the broader power sector dynamics.
Comparative Performance and Sector Context
Within the power sector, NHPC’s performance has been relatively strong over the long term, but recent technical signals suggest a period of consolidation or mild correction may be underway. The sector itself has faced headwinds from regulatory changes and fluctuating demand patterns, which could be influencing NHPC’s technical indicators.
Investors should also consider the stock’s relative strength compared to the Sensex. While NHPC has outperformed the benchmark over three, five, and ten years, its one-month and year-to-date returns have been modestly negative or flat, indicating short-term challenges despite long-term strength.
Outlook and Investor Considerations
Given the current mildly bearish technical trend and mixed indicator signals, NHPC Ltd appears to be at a critical juncture. The weekly MACD’s mild bullishness offers some hope for short-term gains, but the monthly MACD and Bollinger Bands caution against over-optimism. The absence of strong RSI signals suggests the stock could move in either direction depending on market catalysts and sector developments.
Investors should monitor key support levels near ₹75 and resistance around ₹79 to ₹80, which have recently defined the trading range. A sustained break above the 52-week high of ₹92.30 would be a strong bullish signal, while a fall below the 52-week low of ₹71.01 could confirm a deeper correction.
Considering NHPC Ltd? Wait! SwitchER has found potentially better options in Power and beyond. Compare this mid-cap with top-rated alternatives now!
- - Better options discovered
- - Power + beyond scope
- - Top-rated alternatives ready
Summary
NHPC Ltd’s recent technical developments reveal a stock in transition, with a shift from bearish to mildly bearish trends and a complex interplay of indicator signals. While short-term momentum indicators like the weekly MACD suggest some bullish potential, longer-term measures remain cautious. The stock’s recent price gains and outperformance relative to the Sensex over extended periods underscore its underlying strength, but the downgrade to a Sell rating and mixed technical signals advise prudence.
Investors should closely monitor key technical levels and sector developments before making fresh commitments. NHPC’s position within the power sector and its historical resilience offer opportunities, but the current technical landscape demands a balanced and vigilant approach.
Upgrade at special rates, valid only for the next few days. Claim Your Special Rate →
