RBZ Jewellers Ltd Technical Momentum Shifts to Bullish Amid Mixed Market Returns

Technical Momentum Shift and Indicator Analysis

RBZ Jewellers Ltd, operating in the Gems, Jewellery and Watches sector, has recently seen its technical trend upgrade from mildly bullish to bullish. This shift is supported by a confluence of technical signals across multiple timeframes. The Moving Average Convergence Divergence (MACD) indicator on the weekly chart is firmly bullish, reflecting positive momentum in the medium term. However, the monthly MACD remains neutral, indicating that longer-term momentum has yet to fully confirm the uptrend.

The Relative Strength Index (RSI) on both weekly and monthly charts currently shows no definitive signal, suggesting that the stock is neither overbought nor oversold. This neutral RSI reading implies room for further price appreciation without immediate risk of a reversal due to overextension.

Bollinger Bands on the weekly timeframe have turned bullish, indicating that price volatility is expanding upwards and the stock is trending towards the upper band. Conversely, the monthly Bollinger Bands remain sideways, reflecting a consolidation phase over the longer term.

Daily moving averages have crossed into bullish territory, reinforcing the short-term positive momentum. The KST (Know Sure Thing) indicator on the weekly chart also supports this bullish stance, while the monthly KST remains inconclusive.

According to Dow Theory, the weekly trend is mildly bullish, but the monthly trend remains mildly bearish, highlighting a divergence between short- and long-term market sentiment. On-Balance Volume (OBV) readings are mildly bullish on both weekly and monthly charts, suggesting that volume trends are supporting the price gains.

Price Performance and Market Context

RBZ Jewellers closed at ₹155.40 on 9 Jan 2026, down 1.46% from the previous close of ₹157.70. The stock traded within a range of ₹152.40 to ₹163.35 during the day. Despite this minor pullback, the stock’s 52-week high stands at ₹252.45, with a low of ₹107.55, indicating significant volatility over the past year.

Examining returns relative to the Sensex reveals a mixed picture. Over the past week, RBZ Jewellers surged 11.2%, outperforming the Sensex’s decline of 1.18%. The one-month return was even more impressive at 15.54%, compared to the Sensex’s negative 1.08%. Year-to-date, the stock has gained 11.48%, while the Sensex fell 1.22%. However, over the last year, RBZ Jewellers has underperformed significantly, with a negative return of 31.98% against the Sensex’s 7.72% gain.

This divergence suggests that while the stock has recently regained momentum, it is still recovering from a period of underperformance. The technical upgrades may signal a turning point, but investors should remain cautious given the longer-term weakness.

Mojo Score Upgrade and Market Capitalisation Insights

RBZ Jewellers’ MarketsMOJO score has improved to 76.0, reflecting a Buy rating, upgraded from a previous Hold on 8 Jan 2026. This upgrade is a clear endorsement of the stock’s improving technical and fundamental outlook. The company holds a Market Cap Grade of 4, indicating a mid-cap status with moderate liquidity and market presence.

The upgrade in Mojo Grade is significant as it incorporates a comprehensive analysis of price momentum, volume trends, and sectoral positioning. The Gems, Jewellery and Watches sector has been volatile, but RBZ Jewellers’ recent technical signals suggest it is poised to capitalise on renewed investor interest.

Investors should note that despite the recent bullish technical signals, the stock’s price remains well below its 52-week high, indicating potential upside if momentum sustains. The current price of ₹155.40 is closer to the 52-week low of ₹107.55 than the high, suggesting room for recovery.

Sector and Broader Market Comparison

When compared to the broader market, RBZ Jewellers’ recent outperformance is notable. The Sensex has experienced modest declines over the short term, while RBZ Jewellers has posted double-digit gains over one week and one month periods. This divergence highlights the stock’s relative strength within its sector and the broader market.

However, the longer-term underperformance over one year remains a cautionary factor. The Gems, Jewellery and Watches sector has faced headwinds including fluctuating gold prices and changing consumer demand patterns. RBZ Jewellers’ technical improvements may signal a sectoral turnaround or company-specific recovery.

Investor Takeaways and Outlook

RBZ Jewellers Ltd’s recent technical upgrades and improved momentum indicators suggest a positive near-term outlook. The weekly MACD and KST indicators confirm strengthening momentum, while daily moving averages support a bullish trend. The neutral RSI readings provide a balanced risk profile, indicating the stock is not yet overbought.

Nevertheless, the divergence between weekly and monthly Dow Theory signals and the sideways monthly Bollinger Bands highlight that longer-term confirmation is pending. Investors should monitor whether monthly momentum indicators align with the weekly bullishness in coming weeks.

The stock’s recent outperformance relative to the Sensex and its upgraded Mojo Grade to Buy reflect growing market confidence. However, the significant one-year underperformance and the stock’s current price level relative to its 52-week high suggest that cautious optimism is warranted.

In summary, RBZ Jewellers Ltd appears to be in the early stages of a technical recovery, supported by multiple bullish signals. Investors with a medium-term horizon may find the stock attractive, especially given its improved MarketsMOJO score and technical trend upgrade. Close attention to volume trends and monthly momentum indicators will be critical to confirm sustained strength.

Summary of Key Technical Metrics:

• Weekly MACD: Bullish


• Monthly MACD: Neutral


• Weekly RSI: No signal


• Monthly RSI: No signal


• Weekly Bollinger Bands: Bullish


• Monthly Bollinger Bands: Sideways


• Daily Moving Averages: Bullish


• Weekly KST: Bullish


• Monthly KST: Neutral


• Weekly Dow Theory: Mildly Bullish


• Monthly Dow Theory: Mildly Bearish


• Weekly OBV: Mildly Bullish


• Monthly OBV: Mildly Bullish

With a current price of ₹155.40 and a Mojo Score of 76.0, RBZ Jewellers Ltd is positioned for potential gains, provided the technical momentum sustains and aligns with broader market trends.

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