Key Events This Week
19 Jan: Stock opens at Rs.10.26, begins week with 2.44% gain
20 Jan: Exceptional volume surge amid mixed price action and Sell rating
21 Jan: Continued high volume with slight price dip despite sector gains
22 Jan: Volume surge with 1.24% price gain, technical signals mixed
23 Jan: Week closes at Rs.10.70, up 0.28% on high volume but delivery volumes decline
Monday, 19 January 2026: Positive Start Amid Broader Market Weakness
PC Jeweller Ltd began the week on a strong note, closing at Rs.10.51, up 2.44% from the previous Friday’s close of Rs.10.26. This gain contrasted with the Sensex’s decline of 0.49% to 36,650.97, signalling early relative strength. The stock’s volume of 3.53 million shares indicated moderate investor interest, setting the stage for heightened activity in the days ahead.
Tuesday, 20 January 2026: Exceptional Volume Amid Mixed Price Action and Sell Rating
On 20 January, PC Jeweller emerged as one of the most actively traded stocks, with a remarkable volume of over 15.1 million shares exchanging hands, valued at approximately ₹15.87 crores. Despite this surge, the stock closed marginally lower at Rs.10.63, a 1.14% gain from Monday’s close but underperforming the Gems, Jewellery and Watches sector which declined by 0.29%, and the Sensex which fell 1.82%.
The day’s trading reflected a complex interplay of factors. The stock traded above its 5-day and 20-day moving averages but remained below longer-term averages, indicating short-term strength amid longer-term caution. Notably, MarketsMOJO downgraded PC Jeweller’s Mojo Grade to Sell on 29 September 2025, a sentiment echoed by the mixed technical momentum observed this day.
Delivery volumes increased by 7.49% compared to the 5-day average, suggesting genuine accumulation despite the price dip. However, the stock’s 1-day return of -0.95% relative to the sector and benchmark indices highlighted investor uncertainty.
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Wednesday, 21 January 2026: High Volume Continues Amid Slight Price Decline
Trading volume remained elevated on 21 January, with nearly 16 million shares traded, valued at approximately ₹16.92 crores. Despite this, the stock closed slightly lower at Rs.10.52, down 1.03% from the previous day’s close. This marginal decline contrasted with the Gems, Jewellery and Watches sector’s 0.49% gain and the Sensex’s 0.47% drop, indicating relative underperformance.
Technically, the stock maintained levels above its 5-day, 20-day, and 50-day moving averages, signalling short- to medium-term bullish momentum. However, it remained below the 100-day and 200-day averages, reflecting longer-term pressure. Delivery volume surged by 52.88% compared to the 5-day average, suggesting accumulation by long-term investors despite the price dip.
The mixed signals point to a tug-of-war between buyers and sellers, with profit-taking possibly offsetting fresh buying interest. The Mojo Score of 43.0 and Sell rating reinforce the cautious outlook.
Thursday, 22 January 2026: Volume Surge and Price Gain Amid Mixed Technical Signals
On 22 January, PC Jeweller recorded a significant volume spike of over 9.19 million shares, with a traded value near ₹9.77 crores. The stock gained 1.24% to close at Rs.10.67, outperforming both the sector’s 0.88% rise and the Sensex’s 0.76% advance. This positive price action was supported by strong delivery volumes, which increased by 39.75% compared to the five-day average, signalling genuine accumulation.
Despite these gains, the stock remained below its 100-day and 200-day moving averages, indicating that longer-term resistance persists. The mixed technical picture suggests cautious optimism, with investors balancing recent buying interest against the lingering Sell rating and sector challenges.
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Friday, 23 January 2026: Week Closes on High Volume with Modest Gain
PC Jeweller concluded the week with a closing price of Rs.10.70, up 0.28% on the day, supported by a volume surge of over 12.47 million shares worth approximately ₹13.38 crores. The stock outperformed its sector, which declined by 0.23%, and the Sensex, which was nearly flat with a 0.04% gain.
Technical indicators remained mixed. The stock traded above its 5-day, 20-day, and 50-day moving averages, signalling short- to medium-term bullish momentum, but stayed below the 100-day and 200-day averages, indicating longer-term resistance. Notably, delivery volumes declined by 20.26% relative to the five-day average, suggesting increased speculative or intraday trading rather than sustained accumulation.
This divergence between volume and delivery volumes points to a nuanced market sentiment, with short-term traders active but long-term investor commitment less certain. The Mojo Score remains at 43.0 with a Sell rating, reflecting ongoing caution despite recent volume-driven gains.
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-01-19 | Rs.10.51 | +2.44% | 36,650.97 | -0.49% |
| 2026-01-20 | Rs.10.63 | +1.14% | 35,984.65 | -1.82% |
| 2026-01-21 | Rs.10.52 | -1.03% | 35,815.26 | -0.47% |
| 2026-01-22 | Rs.10.67 | +1.43% | 36,088.66 | +0.76% |
| 2026-01-23 | Rs.10.70 | +0.28% | 35,609.90 | -1.33% |
Key Takeaways
Volume and Liquidity: PC Jeweller consistently recorded exceptional trading volumes throughout the week, with daily volumes often exceeding 9 million shares and peaking near 16 million on 21 January. This liquidity supports sizeable trades up to ₹1.46 crores without significant market impact, making the stock accessible to both institutional and retail investors.
Price Performance vs Sensex: The stock outperformed the Sensex by a wide margin, gaining 4.29% over the week while the benchmark declined 3.31%. This relative strength is notable given the broader market weakness and sector headwinds.
Technical Signals: Short- to medium-term momentum indicators, including moving averages and weekly MACD, suggest mild bullishness. However, the stock remains below key longer-term moving averages and the monthly MACD remains bearish, indicating unresolved longer-term challenges.
Delivery Volumes and Investor Sentiment: Delivery volumes rose significantly midweek, signalling genuine accumulation by long-term investors. However, the decline in delivery volumes on Friday amid high traded volume suggests increased speculative or intraday trading, adding volatility and uncertainty.
Mojo Score and Rating: The persistent Mojo Score of 43.0 and Sell rating reflect ongoing caution due to fundamental and technical concerns. The downgrade from Hold in September 2025 underscores the need for prudence despite recent volume-driven gains.
Conclusion
PC Jeweller Ltd’s trading activity during the week of 19 to 23 January 2026 was characterised by strong volume surges and a 4.29% price gain that outpaced the Sensex’s decline. The stock demonstrated short-term bullish momentum supported by increased delivery volumes midweek, indicating accumulation by long-term investors. However, mixed technical signals and a persistent Sell rating from MarketsMOJO highlight ongoing risks and sector challenges.
Investors should remain cautious, monitoring delivery volume trends and the stock’s ability to break above longer-term moving averages for confirmation of a sustained uptrend. The divergence between high traded volumes and declining delivery volumes towards week-end suggests speculative activity that could lead to volatility. Overall, PC Jeweller’s week reflects a stock at a technical and fundamental crossroads, with opportunities tempered by cautionary signals.
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