One 97 Communications Ltd Faces Bearish Momentum Amid Technical Downgrade

Technical Trend Shift and Price Movement

On 24 Mar 2026, One 97 Communications Ltd closed at ₹992.95, down 5.77% from the previous close of ₹1,053.80. The stock traded within a range of ₹987.40 to ₹1,037.35 during the day, remaining well below its 52-week high of ₹1,381.75 but comfortably above its 52-week low of ₹681.95. This recent price decline has contributed to a shift in the technical trend from mildly bearish to outright bearish, signalling increased selling pressure.

Comparatively, the broader Sensex index has also faced headwinds, but One 97’s price return underperformed over the short and medium term. Over the past month, the stock has declined by 15.5%, exceeding the Sensex’s 12.72% drop. Year-to-date, the stock is down 23.55%, significantly lagging the Sensex’s 14.7% fall. However, on a longer horizon, the stock has outperformed, delivering a 32.18% return over the past year versus the Sensex’s negative 5.47%, and a robust 59.51% gain over three years compared to the Sensex’s 25.5%.

MACD and Momentum Indicators

The Moving Average Convergence Divergence (MACD) indicator remains bearish on the weekly timeframe and mildly bearish on the monthly chart. This suggests that the stock’s momentum is weakening, with the short-term trend losing strength relative to the longer-term trend. The bearish weekly MACD aligns with the recent price decline and the shift in technical trend, indicating that sellers currently dominate the market.

Meanwhile, the Relative Strength Index (RSI) shows no clear signal on both weekly and monthly timeframes, hovering in a neutral zone. This lack of oversold or overbought conditions implies that the stock is not yet at an extreme valuation level, leaving room for further downside or consolidation before a potential reversal.

Moving Averages and Bollinger Bands

Daily moving averages reinforce the bearish outlook, with the stock trading below key averages, signalling downward momentum. The Bollinger Bands present a mixed picture: bearish on the weekly scale but mildly bullish on the monthly. The weekly bearish Bollinger Bands suggest increased volatility and downward pressure in the near term, while the monthly mild bullishness hints at possible support or consolidation over a longer horizon.

Additional Technical Signals

The Know Sure Thing (KST) indicator is bearish on the weekly timeframe but bullish monthly, echoing the mixed signals from Bollinger Bands. Dow Theory analysis shows no clear trend on the weekly chart but a mildly bearish stance monthly, indicating uncertainty in the intermediate term. On-Balance Volume (OBV) also shows no trend weekly and mildly bearish monthly, suggesting that volume is not strongly supporting price advances.

Mojo Score and Rating Revision

MarketsMOJO has downgraded One 97 Communications Ltd from a Hold to a Sell rating as of 18 Mar 2026, reflecting the deteriorating technical parameters and weakening price momentum. The company’s Mojo Score stands at 47.0, which is below the threshold for a positive outlook and supports the Sell grade. This downgrade signals caution for investors, especially given the mid-cap status of the stock and its vulnerability to market volatility.

Sector and Industry Context

Operating within the Financial Technology (Fintech) sector, One 97 Communications Ltd faces competitive pressures and rapid technological changes. The sector itself has experienced mixed performance, with some peers showing resilience while others struggle amid macroeconomic uncertainties. The stock’s technical weakness contrasts with the broader fintech industry’s occasional bullish pockets, underscoring company-specific challenges.

Long-Term Performance and Investor Considerations

Despite recent setbacks, One 97 Communications Ltd has demonstrated strong long-term returns. Over the past three years, the stock has appreciated by 59.51%, more than doubling the Sensex’s 25.5% gain. This suggests that while short-term technicals are unfavourable, the company’s fundamentals or growth prospects may still appeal to long-term investors willing to weather volatility.

However, the current technical indicators caution against aggressive buying. The bearish daily moving averages and weekly MACD, combined with the recent downgrade, imply that the stock could face further downside or sideways movement before any meaningful recovery. Investors should closely monitor technical signals and broader market conditions before initiating new positions.

Summary and Outlook

In summary, One 97 Communications Ltd is currently navigating a challenging technical landscape. The shift from mildly bearish to bearish technical trends, combined with a downgrade to a Sell rating and a Mojo Score of 47.0, signals caution for investors. Key momentum indicators such as MACD and moving averages reinforce the negative near-term outlook, while neutral RSI readings suggest the stock is not yet oversold.

Investors should weigh the stock’s strong long-term performance against the current technical weakness and sector dynamics. Monitoring weekly and monthly technical indicators will be crucial to identify any potential reversal or stabilisation. Until then, the prevailing bearish momentum advises prudence, particularly for short-term traders and risk-averse investors.

Technical Indicator Summary:

• MACD: Weekly Bearish, Monthly Mildly Bearish
• RSI: No Signal (Weekly & Monthly)
• Bollinger Bands: Weekly Bearish, Monthly Mildly Bullish
• Moving Averages: Daily Bearish
• KST: Weekly Bearish, Monthly Bullish
• Dow Theory: Weekly No Trend, Monthly Mildly Bearish
• OBV: Weekly No Trend, Monthly Mildly Bearish

Given these mixed but predominantly negative signals, One 97 Communications Ltd remains under pressure technically, with limited near-term upside visibility.

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