Technical Trend Overview and Price Movement
The stock closed at ₹384.20 on 24 Feb 2026, down marginally by 0.54% from the previous close of ₹386.30. Intraday volatility was evident, with a high of ₹407.75 and a low of ₹378.05, reflecting investor indecision amid mixed signals. The 52-week price range remains broad, with a high of ₹426.95 and a low of ₹290.00, indicating substantial price appreciation over the past year.
Technically, the trend has shifted from mildly bullish to sideways, suggesting a consolidation phase after recent gains. This is consistent with the daily moving averages, which currently show a mildly bearish bias, signalling potential short-term pressure on the stock price.
MACD and Momentum Indicators
The Moving Average Convergence Divergence (MACD) indicator presents a dichotomy between weekly and monthly timeframes. On the weekly chart, MACD remains bullish, indicating positive momentum in the near term. However, the monthly MACD is mildly bearish, hinting at a possible weakening of the longer-term uptrend. This divergence suggests that while short-term traders may find opportunities, longer-term investors should exercise caution.
The Know Sure Thing (KST) indicator aligns with this view, showing bullish momentum on the weekly scale but mildly bearish signals monthly. Such mixed readings often precede periods of sideways price action or volatility, as market participants reassess valuations.
RSI and Overbought/Oversold Conditions
The Relative Strength Index (RSI) on the weekly chart has turned bearish, indicating that the stock may be losing upward momentum and could be entering a phase of correction or consolidation. Conversely, the monthly RSI shows no clear signal, reinforcing the notion of an uncertain medium-term outlook.
This weakening RSI on the weekly timeframe suggests that the stock is not currently overbought but may be approaching a neutral or slightly oversold condition, which could attract value-oriented buyers if confirmed by other indicators.
Bollinger Bands and Volatility Assessment
Bollinger Bands provide insight into volatility and price extremes. On a weekly basis, the bands are mildly bullish, indicating that price is trending near the upper band but without excessive volatility. The monthly Bollinger Bands are bullish, suggesting a sustained upward trend over the longer term.
This combination implies that while short-term price swings may be contained, the broader trend remains positive, albeit with caution warranted due to the sideways momentum shift.
Volume and Trend Confirmation
On-Balance Volume (OBV) analysis reveals no clear trend on the weekly chart, signalling a lack of strong volume conviction behind recent price moves. However, the monthly OBV is bullish, indicating accumulation over the longer term. This disparity suggests that institutional investors may be gradually building positions, even as short-term trading activity remains subdued.
Dow Theory assessments further complicate the picture, with no definitive trend on the weekly scale but a mildly bullish stance monthly. This reinforces the mixed technical environment, where short-term uncertainty coexists with longer-term optimism.
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Moving Averages and Short-Term Outlook
Daily moving averages currently exhibit a mildly bearish trend, with the stock price hovering near or slightly below key averages. This suggests that short-term momentum is waning, and the stock may face resistance in breaking higher without renewed buying interest.
Investors should monitor the 50-day and 200-day moving averages closely, as a sustained breach below these levels could signal a deeper correction. Conversely, a rebound above these averages would be a positive technical development.
Comparative Returns and Market Context
Nitin Spinners has delivered impressive returns relative to the broader market, with a 1-week return of 14.18% compared to the Sensex’s 0.02%, and a 1-month return of 20.87% versus Sensex’s 2.15%. Year-to-date, the stock has gained 22.14%, while the Sensex has declined by 2.26%, underscoring the stock’s relative strength.
Over longer horizons, the stock’s performance remains robust, with 1-year returns at 18.45% against Sensex’s 10.60%, 3-year returns at 83.74% versus 39.74%, and a remarkable 5-year return of 364.57% compared to 67.42% for the benchmark. The 10-year return of 625.59% further highlights the company’s strong growth trajectory within the Garments & Apparels sector.
Despite recent technical caution, these returns reflect the company’s underlying fundamentals and market positioning, which continue to attract investor interest.
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Mojo Score and Analyst Ratings
Nitin Spinners currently holds a Mojo Score of 55.0, reflecting a Hold rating, an upgrade from the previous Sell grade as of 3 Nov 2025. This shift indicates improving technical and fundamental conditions, though the score suggests caution rather than outright bullishness.
The company’s Market Cap Grade stands at 3, signalling a mid-tier market capitalisation relative to peers in the Garments & Apparels sector. This positioning may influence liquidity and volatility characteristics, which investors should consider when evaluating entry or exit points.
Conclusion: Navigating Mixed Signals
The technical landscape for Nitin Spinners Ltd is characterised by a transition from mildly bullish momentum to a more sideways, consolidative phase. Mixed signals from key indicators such as MACD, RSI, Bollinger Bands, and moving averages suggest that while the stock retains longer-term bullish underpinnings, short-term caution is warranted.
Investors should closely monitor weekly MACD and KST indicators for signs of renewed momentum, while paying attention to RSI trends that may signal oversold conditions. Volume patterns and Dow Theory assessments further reinforce the need for a balanced approach, recognising both the potential for upside and the risk of short-term pullbacks.
Given the stock’s strong relative returns versus the Sensex and its upgraded Mojo Grade, Nitin Spinners remains a noteworthy contender within the Garments & Apparels sector. However, prudent investors may prefer to wait for clearer technical confirmation before committing fresh capital.
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