The technical indicators present a mixed but cautious outlook. The Moving Average Convergence Divergence (MACD) shows a bearish stance on the weekly chart, while the monthly chart indicates a mildly bullish tone. The Relative Strength Index (RSI) offers no clear signal on the weekly timeframe but suggests bullish momentum monthly. Meanwhile, Bollinger Bands reflect bearish conditions on both weekly and monthly scales, reinforcing the prevailing downward pressure. Daily moving averages align with a bearish trend, further underscoring the short-term momentum challenges.
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Additional technical tools such as the Know Sure Thing (KST) indicator and On-Balance Volume (OBV) also reflect bearish tendencies on weekly and monthly charts, with the Dow Theory indicating no clear trend weekly but mildly bearish signals monthly. These mixed signals suggest that while some longer-term indicators hint at potential stabilisation, the immediate momentum remains under pressure. The stock’s 52-week range between ₹375.35 and ₹694.00 highlights significant volatility over the past year.
From a market performance perspective, Relaxo Footwears has underperformed the broader Sensex index across multiple timeframes. Over the past week, the stock returned -2.64% compared to the Sensex’s 0.96%. The one-month return shows a decline of -4.16% against the Sensex’s 0.86%. Year-to-date figures reveal a -32.38% return for Relaxo Footwears, contrasting with the Sensex’s 8.36%. Over one year, the stock’s return stands at -36.71%, while the Sensex recorded 9.48%. Longer-term returns over three, five, and ten years also show the stock lagging behind the Sensex, with the ten-year return at 75.04% versus the Sensex’s 232.28%.
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These technical and performance metrics collectively indicate an adjustment in the evaluation of Relaxo Footwears’ market position. The recent change in its Mojo Grade from Strong Sell to Sell, effective from 10 Nov 2025, reflects this revision in its score following the technical_dot trigger on 19 Nov 2025. The company’s market capitalisation grade remains at 3, consistent with its sector peers in the footwear industry.
Investors analysing Relaxo Footwears should consider the current bearish momentum signals alongside the stock’s historical volatility and relative underperformance compared to the Sensex. While some monthly indicators suggest potential for stabilisation, the prevailing technical environment advises caution. Monitoring key technical parameters such as MACD, RSI, and moving averages will be essential to gauge any future shifts in momentum.
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