Sandur Manganese & Iron Ores Ltd Sees Bullish Momentum Amid Mixed Technical Signals

Technical Trend Overview

Sandur Manganese & Iron Ores Ltd, a key player in the miscellaneous sector, has seen its technical trend upgrade from mildly bullish to bullish as of late January 2026. The stock closed at ₹230.90, up 5.17% from the previous close of ₹219.55, reflecting renewed buying interest. The daily moving averages have turned decisively bullish, signalling upward momentum in the short term. This is complemented by weekly Bollinger Bands indicating bullishness and monthly Bollinger Bands showing mild bullishness, suggesting that volatility is being accompanied by upward price pressure.

However, the technical picture is nuanced. The weekly MACD remains mildly bearish, while the monthly MACD has turned bullish, indicating a divergence between short-term and longer-term momentum. Similarly, the weekly KST (Know Sure Thing) oscillator is mildly bearish, contrasting with a bullish monthly KST. The Dow Theory assessment echoes this pattern, mildly bearish on a weekly basis but bullish monthly. This mixed set of signals points to a transitional phase where short-term caution coexists with longer-term optimism.

Momentum Indicators: MACD and RSI

The Moving Average Convergence Divergence (MACD) indicator is a critical momentum gauge. On a weekly scale, Sandur Manganese’s MACD remains mildly bearish, suggesting some short-term selling pressure or consolidation. Conversely, the monthly MACD has improved to bullish, signalling that the broader trend is gaining strength. This divergence often precedes a sustained rally once the weekly MACD aligns with the monthly trend.

The Relative Strength Index (RSI) presents a more cautious outlook. The weekly RSI currently shows no clear signal, hovering in a neutral zone that neither indicates overbought nor oversold conditions. On the monthly timeframe, the RSI is bearish, implying that the stock may be experiencing some longer-term selling pressure or profit-taking. Investors should monitor RSI levels closely for any breakout above 60 or drop below 40, which could confirm a stronger directional move.

Moving Averages and Volume Trends

Daily moving averages have turned bullish, with the stock price comfortably above its short-term averages, reinforcing the positive momentum. This is a key technical confirmation that buyers are in control in the near term. The On-Balance Volume (OBV) indicator supports this view, showing mildly bullish readings on a weekly basis and bullish readings monthly, indicating that volume trends are favouring accumulation rather than distribution.

Price volatility, as measured by Bollinger Bands, is expanding on the weekly chart with a bullish tilt, suggesting that the stock is breaking out of a consolidation phase. The monthly Bollinger Bands remain mildly bullish, signalling that the stock’s price range is widening with an upward bias. This combination often precedes a sustained price advance.

Price Performance Relative to Sensex

Sandur Manganese’s price performance has been impressive over multiple time horizons when compared to the benchmark Sensex. Over the past week, the stock surged 7.30%, vastly outperforming the Sensex’s modest 0.31% gain. Although the stock dipped slightly by 0.75% over the last month, it still outperformed the Sensex’s 2.51% decline during the same period.

Year-to-date, the stock has declined 4.92%, slightly worse than the Sensex’s 3.11% fall, reflecting some short-term volatility. However, the longer-term returns are striking: a 79.04% gain over one year compared to the Sensex’s 7.88%, a 340.08% gain over three years versus 39.16% for the Sensex, and an extraordinary 1086.22% return over five years compared to 78.38% for the benchmark. Over a decade, Sandur Manganese has delivered a staggering 3097.05% return, dwarfing the Sensex’s 231.98% rise. These figures underscore the stock’s strong growth trajectory and resilience.

Mojo Score and Rating Update

MarketsMOJO has recently revised Sandur Manganese’s Mojo Grade from Buy to Hold as of 17 Nov 2025, reflecting a more cautious stance amid the mixed technical signals. The current Mojo Score stands at 68.0, indicating moderate confidence in the stock’s prospects. The Market Cap Grade is 3, suggesting a mid-sized market capitalisation that offers growth potential but with some liquidity considerations.

While the downgrade from Buy to Hold may temper enthusiasm, it aligns with the technical oscillators’ mixed readings and the need for confirmation of sustained bullish momentum. Investors should weigh the strong long-term returns and bullish moving averages against the short-term caution signalled by weekly MACD and RSI indicators.

Key Price Levels and Volatility

Sandur Manganese’s 52-week high stands at ₹272.85, while the 52-week low is ₹111.64, illustrating a wide trading range and significant price appreciation over the past year. Today’s trading range was between ₹220.30 and ₹231.95, with the closing price near the day’s high, reinforcing the bullish intraday sentiment.

Such volatility is typical for a small-cap stock in the miscellaneous sector, and the expanding Bollinger Bands suggest that the stock may be entering a new phase of price discovery. Investors should monitor these levels closely for potential breakout or reversal signals.

Outlook and Investor Considerations

In summary, Sandur Manganese & Iron Ores Ltd is exhibiting a complex but promising technical profile. The shift to a bullish trend supported by daily moving averages and monthly momentum indicators suggests that the stock is poised for further gains. However, the weekly bearish signals on MACD and KST, along with a bearish monthly RSI, counsel prudence and the need for confirmation.

Long-term investors may find the stock’s historical returns compelling, especially given its outperformance relative to the Sensex over 1, 3, 5, and 10-year periods. Short-term traders should watch for a weekly MACD crossover to the upside and RSI improvements to validate the bullish momentum.

Final Assessment

Sandur Manganese & Iron Ores Ltd’s technical parameters indicate a stock in transition, with a bullish tilt supported by strong moving averages and volume trends, but tempered by some oscillators signalling caution. The recent upgrade in technical trend to bullish is encouraging, yet investors should remain vigilant for confirmation signals in the weekly MACD and RSI.

Given the stock’s impressive long-term returns and current momentum, it remains an attractive candidate for investors with a medium to long-term horizon who can tolerate short-term volatility. The Hold rating from MarketsMOJO reflects this balanced view, recommending a watchful approach rather than aggressive accumulation at this stage.

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