Current Price and Market Context
As of 5 January 2026, Pidilite Industries Ltd closed at ₹1,475.00, slightly up from the previous close of ₹1,469.10. The stock traded within a narrow intraday range, hitting a high of ₹1,483.55 and a low of ₹1,468.10. This price action remains comfortably above its 52-week low of ₹1,310.08 but still below the 52-week high of ₹1,575.00, indicating a consolidation phase within a broader uptrend over the long term.
Technical Trend Overview
The overall technical trend for Pidilite has shifted from bearish to mildly bearish, reflecting a cautious stance among traders and analysts. The weekly Moving Average Convergence Divergence (MACD) remains bearish, signalling that downward momentum is still present, albeit less pronounced than before. On the monthly timeframe, the MACD is mildly bearish, suggesting that while the longer-term momentum is weakening, it has not yet turned decisively negative.
The Relative Strength Index (RSI) on both weekly and monthly charts currently shows no clear signal, hovering in a neutral zone that neither indicates overbought nor oversold conditions. This lack of directional RSI momentum suggests that the stock is in a phase of equilibrium, with neither buyers nor sellers dominating.
Moving Averages and Bollinger Bands
Daily moving averages for Pidilite are mildly bearish, indicating that short-term price action is slightly below key average levels, which may act as resistance. The Bollinger Bands add further nuance: weekly bands are mildly bearish, reflecting a modest contraction and potential downward pressure, while monthly bands remain bearish, signalling a broader volatility squeeze that could precede a significant price move.
Volume and Momentum Indicators
The KST (Know Sure Thing) indicator, a momentum oscillator, is bearish on the weekly chart and mildly bearish on the monthly chart, reinforcing the view that momentum is subdued and may be trending lower. Conversely, the On-Balance Volume (OBV) indicator shows mildly bullish signals on the weekly timeframe, suggesting that volume flow is somewhat supportive of price stability or modest gains. However, the monthly OBV shows no clear trend, indicating that longer-term volume dynamics remain uncertain.
Dow Theory and Market Sentiment
Interestingly, the Dow Theory assessment reveals a mildly bullish trend on the weekly chart, hinting at some underlying strength in the stock’s price action despite other bearish signals. The monthly Dow Theory reading shows no clear trend, reflecting mixed sentiment among investors over the longer horizon.
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Comparative Performance Against Sensex
When analysing Pidilite’s returns relative to the benchmark Sensex, the stock has shown mixed results across different timeframes. Over the past week, Pidilite outperformed the Sensex with a 1.14% gain compared to the index’s 0.85%. However, over the last month, the stock’s return of 0.42% lagged behind the Sensex’s 0.73%. Year-to-date, Pidilite has declined marginally by 0.48%, while the Sensex has gained 0.64%, reflecting some short-term headwinds.
Longer-term returns reveal a more favourable picture for Pidilite. Over one year, the stock has appreciated by 0.74%, though this is significantly below the Sensex’s 7.28% gain. Over three and five years, Pidilite’s returns of 16.64% and 66.62% respectively trail the Sensex’s 40.21% and 79.16%, indicating moderate underperformance relative to the broader market. Notably, over a decade, Pidilite has delivered a remarkable 430.86% return, substantially outperforming the Sensex’s 227.83%, underscoring the company’s strong long-term growth trajectory.
Mojo Score and Rating Update
MarketsMOJO has recently upgraded Pidilite’s Mojo Grade from Sell to Hold as of 31 December 2025, reflecting an improvement in the stock’s technical and fundamental outlook. The current Mojo Score stands at 50.0, signalling a neutral stance. The Market Cap Grade remains at 1, indicating a relatively modest market capitalisation compared to peers in the Specialty Chemicals sector. This upgrade suggests that while the stock is no longer viewed as a sell, investors should maintain a cautious approach and monitor technical developments closely.
Sector and Industry Context
Pidilite operates within the Specialty Chemicals industry, a sector known for its cyclical nature and sensitivity to raw material costs and demand fluctuations. The sector’s performance often correlates with broader industrial activity and consumer spending trends. Given the mixed technical signals and modest price momentum, investors should consider sector dynamics alongside company-specific factors when evaluating Pidilite’s prospects.
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Technical Outlook and Investor Implications
In summary, Pidilite Industries Ltd’s technical indicators present a nuanced picture. The shift from bearish to mildly bearish suggests that the stock may be stabilising after a period of downward pressure, but it has yet to demonstrate a clear bullish reversal. The mixed signals from MACD, RSI, and moving averages imply that momentum remains fragile, and investors should be wary of potential volatility.
Volume-based indicators like OBV provide some optimism, indicating that buying interest has not completely waned. Meanwhile, the mildly bullish Dow Theory reading on the weekly chart hints at possible underlying strength that could support a recovery if confirmed by further price action.
Given the current technical landscape, investors might consider maintaining a Hold position, as reflected in the Mojo Grade, while closely monitoring key support and resistance levels. A decisive break above the 52-week high of ₹1,575.00 could signal renewed bullish momentum, whereas a fall below recent lows near ₹1,468.10 may indicate further downside risk.
Long-term investors should also weigh Pidilite’s impressive decade-long returns against its recent relative underperformance, balancing growth potential with near-term technical caution.
Conclusion
Pidilite Industries Ltd’s recent technical parameter changes highlight a stock in transition, with momentum indicators suggesting a tentative shift away from bearishness but no definitive bullish confirmation yet. The company’s solid long-term fundamentals and sector positioning provide a foundation for potential recovery, but investors should remain vigilant amid mixed technical signals and evolving market conditions.
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