Permanent Magnets Ltd Technical Momentum Shifts Amid Mixed Market Signals

Technical Trend Overview and Price Movement

As of 19 Feb 2026, Permanent Magnets Ltd’s share price closed at ₹843.90, up from the previous close of ₹833.35. The intraday range was relatively narrow, with a low of ₹825.05 and a high of ₹846.00. The stock remains well below its 52-week high of ₹1,229.90 but comfortably above its 52-week low of ₹600.00, indicating a recovery phase from the lows seen over the past year.

The technical trend has shifted from outright bearish to mildly bearish, signalling a potential stabilisation in price momentum. However, this shift is tentative, as several key indicators remain cautious or bearish.

MACD and Moving Averages Signal Bearish Momentum

The Moving Average Convergence Divergence (MACD) remains bearish on both weekly and monthly timeframes, indicating that the stock’s short-term momentum is still lagging behind its longer-term trend. This bearish MACD suggests that selling pressure has not fully abated, and the risk of further downside remains.

Daily moving averages reinforce this view, with the stock trading below key averages, confirming a bearish short-term trend. This alignment of MACD and moving averages typically signals that the stock is yet to establish a sustainable upward trajectory.

RSI and Bollinger Bands Reflect Neutral to Mildly Bearish Conditions

The Relative Strength Index (RSI) on weekly and monthly charts currently shows no definitive signal, hovering in a neutral zone that neither indicates overbought nor oversold conditions. This neutrality suggests that the stock is consolidating, with neither buyers nor sellers dominating decisively.

Bollinger Bands on both weekly and monthly timeframes are mildly bearish, implying that price volatility is skewed towards the downside but without extreme deviations. This mild bearishness in volatility bands aligns with the overall cautious market stance on the stock.

KST and Dow Theory Indicate Emerging Bullish Signals

Contrasting the bearish MACD and moving averages, the Know Sure Thing (KST) indicator shows mildly bullish signals on both weekly and monthly charts. This divergence suggests that momentum may be building beneath the surface, potentially signalling a nascent uptrend if confirmed by other indicators.

Similarly, Dow Theory readings are mixed: weekly data points to a mildly bullish trend, while monthly data remains mildly bearish. This split reflects a market in transition, where short-term optimism is yet to be fully embraced by longer-term investors.

On-Balance Volume and Market Sentiment

On-Balance Volume (OBV) data is currently unavailable for both weekly and monthly periods, limiting insights into volume-driven momentum. However, the stock’s recent day change of +1.27% suggests some buying interest, albeit modest.

Comparative Returns and Market Context

Examining Permanent Magnets Ltd’s returns relative to the Sensex provides additional perspective. Over the past week, the stock has declined by 3.60%, underperforming the Sensex’s modest 0.59% loss. Over one month, the stock’s return is -0.87%, slightly lagging the Sensex’s 0.20% gain. Year-to-date, the stock is down 2.78%, compared to the Sensex’s 1.74% decline.

Longer-term returns tell a more positive story. Over one year, Permanent Magnets Ltd has delivered a 12.52% return, outperforming the Sensex’s 10.22%. Over five years, the stock has surged by an impressive 413.17%, vastly exceeding the Sensex’s 63.15% gain. The ten-year return is even more striking at 5,344.52%, dwarfing the Sensex’s 254.07% growth. These figures highlight the company’s strong long-term growth trajectory despite recent volatility.

Mojo Score and Grade Update

MarketsMOJO assigns Permanent Magnets Ltd a Mojo Score of 35.0, categorising it as a Sell. This represents an upgrade from a previous Strong Sell rating as of 5 Jan 2026, reflecting a slight improvement in technical and fundamental outlooks. The Market Cap Grade stands at 4, indicating a relatively modest market capitalisation within its sector.

The upgrade in grade suggests that while the stock remains under pressure, some technical parameters have improved enough to warrant a less severe rating. Investors should note, however, that the overall sentiment remains cautious.

Investor Takeaway and Outlook

Permanent Magnets Ltd’s technical landscape is characterised by a cautious transition. The prevailing bearish signals from MACD and moving averages caution investors about potential downside risks in the near term. However, the mildly bullish indications from KST and weekly Dow Theory suggest that momentum could be stabilising, offering a tentative foundation for recovery.

Given the mixed signals, investors should monitor key technical levels closely. A sustained move above daily moving averages and a bullish crossover in MACD would be necessary to confirm a more robust uptrend. Conversely, failure to hold current support levels near ₹825 could trigger renewed selling pressure.

Long-term investors may find comfort in the company’s impressive multi-year returns, which have significantly outpaced the broader market. However, short-term traders should remain vigilant to the evolving technical signals and market conditions.

In summary, Permanent Magnets Ltd is at a technical crossroads. While the recent upgrade in Mojo Grade from Strong Sell to Sell reflects some improvement, the stock’s momentum remains fragile. Investors are advised to weigh these technical factors alongside fundamental considerations before making allocation decisions.

Summary of Key Technical Indicators:

• MACD: Bearish on weekly and monthly charts
• RSI: Neutral, no clear signal on weekly and monthly
• Bollinger Bands: Mildly bearish on weekly and monthly
• Moving Averages: Bearish on daily timeframe
• KST: Mildly bullish on weekly and monthly
• Dow Theory: Weekly mildly bullish, monthly mildly bearish

Price and Return Highlights:

• Current Price: ₹843.90
• 52-Week High/Low: ₹1,229.90 / ₹600.00
• Day Change: +1.27%
• 1-Year Return: +12.52% vs Sensex +10.22%
• 5-Year Return: +413.17% vs Sensex +63.15%
• 10-Year Return: +5,344.52% vs Sensex +254.07%

Mojo Score and Grade: Score 35.0, Grade Sell (upgraded from Strong Sell on 05 Jan 2026)

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