Opening Price Surge and Intraday Performance
The stock opened sharply higher, registering a gain of 15.63% at the start of the trading session. This gap up was followed by sustained momentum throughout the day, with the share price reaching an intraday high of Rs 382, marking a 16.75% increase from the prior close. Despite this strong performance, Nitin Spinners slightly underperformed its sector benchmark, the Textile sector, which gained 5.13% on the same day.
Volatility was notably elevated, with an intraday volatility of 90.88% calculated from the weighted average price, indicating active trading and price fluctuations within the session. The stock’s day change closed at 8.60%, outperforming the Sensex’s 2.89% gain for the day, underscoring relative strength in the company’s shares.
Recent Price Trends and Moving Averages
Nitin Spinners has been on a positive trajectory, recording gains over the last two consecutive days with a cumulative return of 10.6%. Over the past month, the stock has delivered an 11.17% return, contrasting favourably against the Sensex’s negative 2.02% performance during the same period. This trend highlights the stock’s resilience amid broader market headwinds.
Technically, the stock is trading above all key moving averages — 5-day, 20-day, 50-day, 100-day, and 200-day — which typically signals a bullish trend in price momentum. However, daily moving averages indicate a mildly bearish technical stance, reflecting some short-term consolidation or profit-taking.
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Technical Indicators and Market Sentiment
Examining technical indicators, the weekly MACD suggests a mildly bullish outlook, while the monthly MACD remains mildly bearish. The Relative Strength Index (RSI) on both weekly and monthly charts does not currently signal any definitive momentum extremes. Bollinger Bands indicate sideways movement on the weekly scale but show bearish tendencies monthly, suggesting some caution in longer-term price action.
The KST indicator is mildly bullish weekly but bearish monthly, and Dow Theory analysis aligns with a mildly bullish weekly trend without a clear monthly trend. On-Balance Volume (OBV) supports a mildly bullish weekly stance, though monthly trends remain neutral. These mixed signals reflect a nuanced technical environment, with short-term strength tempered by longer-term caution.
Sector and Market Context
The Garments & Apparels sector, to which Nitin Spinners belongs, has shown positive momentum, with the Textile sector gaining 5.13% on the day. Nitin Spinners’ outperformance relative to the Sensex and its sector peers over recent periods highlights its current market strength. The stock’s beta of 1.07 indicates it is a high beta stock, meaning it tends to experience larger price swings compared to the broader market, which aligns with the observed high intraday volatility.
Mojo Score and Grade Update
MarketsMOJO assigns Nitin Spinners a Mojo Score of 50.0 and a Mojo Grade of Hold as of 3 Nov 2025, upgraded from a previous Sell rating. The Market Cap Grade stands at 3, reflecting its mid-cap status. This upgrade reflects an improved outlook based on fundamental and technical factors, though the Hold rating suggests a balanced view on near-term prospects.
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Gap Fill Potential and Momentum Sustainability
The significant gap up opening at 15.63% suggests strong overnight catalysts or positive developments influencing market sentiment. While the stock maintained upward momentum through the session, the high intraday volatility indicates active profit-taking and repositioning by traders. Given the stock’s trading above all major moving averages and its recent consecutive gains, the momentum appears sustained in the short term.
However, the slight underperformance relative to the sector and the mildly bearish signals on some monthly technical indicators suggest the possibility of a partial gap fill in the near term, as market participants reassess valuations. The balance of technical signals points to a cautious but positive trading environment, with the stock’s high beta nature amplifying price movements.
Summary
Nitin Spinners Ltd’s strong gap up opening on 3 Feb 2026 reflects positive market sentiment within the Garments & Apparels sector and the broader textile industry. The stock’s intraday high of Rs 382 and closing gain of 8.60% demonstrate sustained buying interest despite elevated volatility. Technical indicators present a mixed but generally constructive picture, with short-term momentum supported by trading above key moving averages and a recent upgrade in Mojo Grade from Sell to Hold.
While the stock outperformed the Sensex and showed resilience over the past month, some caution is warranted given the mildly bearish monthly technical signals and the potential for partial gap fill. Overall, Nitin Spinners remains a high beta stock with notable price swings, reflecting active market participation and dynamic trading conditions.
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