Technical Momentum and Price Action
The stock closed at ₹489.65 on 4 Feb 2026, marking a robust day change of 9.55% from the previous close of ₹446.95. Intraday, Sangam India touched a high of ₹524.10, matching its 52-week peak, while the low was ₹471.05. This price action reflects renewed buying interest and a strong upward momentum that has been building over recent weeks.
Over the past week, the stock has outperformed the Sensex significantly, delivering a 13.98% return compared to the benchmark’s 2.30%. Even on a one-month basis, Sangam India posted a positive 2.67% return while the Sensex declined by 2.36%. These figures highlight the stock’s resilience and relative strength within the broader market context.
MACD and Momentum Indicators
The Moving Average Convergence Divergence (MACD) indicator is a key momentum oscillator used to identify trend direction and strength. Sangam India’s MACD readings are bullish on both weekly and monthly charts, signalling sustained upward momentum. The weekly MACD line has crossed above its signal line, confirming a buy signal, while the monthly MACD remains firmly bullish, indicating that the medium-term trend supports further gains.
Meanwhile, the Relative Strength Index (RSI) remains neutral with no clear signal on weekly and monthly timeframes, suggesting the stock is not yet overbought and has room to appreciate further without immediate risk of a pullback.
Bollinger Bands and Moving Averages
Bollinger Bands, which measure volatility and price levels relative to recent averages, are also signalling bullishness on weekly and monthly charts. The stock price is trading near the upper band, reflecting strong buying pressure and a potential continuation of the upward trend.
Daily moving averages reinforce this positive outlook. The stock is trading above its key moving averages, including the 50-day and 200-day lines, which are classic indicators of bullish momentum. This alignment of moving averages suggests that the stock is in a confirmed uptrend, supported by healthy volume and investor interest.
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Additional Technical Signals and Trend Analysis
The Know Sure Thing (KST) indicator presents a mixed picture: mildly bearish on the weekly timeframe but bullish on the monthly chart. This divergence suggests some short-term consolidation or minor correction could occur, but the longer-term trend remains positive.
Dow Theory assessments align with this view, showing mildly bullish trends on both weekly and monthly scales. This theory, which analyses market phases and trend confirmations, supports the notion that Sangam India is in an early to mid-stage uptrend.
On-Balance Volume (OBV), a volume-based indicator that confirms price trends, is bullish on the weekly chart but shows no clear trend monthly. The weekly OBV increase indicates that volume is supporting the recent price rise, a positive sign for sustained momentum.
Comparative Returns and Market Positioning
Looking at longer-term returns, Sangam India has outperformed the Sensex by a wide margin. Over one year, the stock returned 28.18% compared to the Sensex’s 8.49%. Over three years, the stock’s return of 144.83% dwarfs the Sensex’s 37.63%, and over five years, the stock has surged 526.15% against the benchmark’s 66.63%. These figures underscore the company’s strong growth trajectory and market leadership within the garments and apparels sector.
Despite a 10-year return of 78.90% lagging the Sensex’s 245.70%, the recent acceleration in performance and technical upgrades suggest a potential catch-up phase driven by operational improvements and sector tailwinds.
Mojo Score Upgrade and Market Capitalisation
MarketsMOJO has upgraded Sangam India’s Mojo Grade from Hold to Buy as of 19 Jan 2026, reflecting improved technical and fundamental parameters. The Mojo Score stands at a robust 77.0, signalling strong conviction in the stock’s prospects. The company holds a Market Cap Grade of 3, indicating a mid-sized market capitalisation with room for growth and institutional interest.
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Outlook and Investor Considerations
With multiple technical indicators aligning to a bullish stance, Sangam India appears well-positioned to continue its upward trajectory in the near to medium term. The stock’s ability to sustain above key moving averages and maintain bullish MACD momentum suggests that investors could benefit from entering or adding to positions on dips.
However, the mildly bearish weekly KST and neutral RSI readings counsel some caution, indicating that short-term volatility or consolidation phases may occur. Investors should monitor volume trends and price action near the ₹524.10 resistance level, which represents the 52-week high.
Fundamentally, the garment and apparel sector is poised for growth amid improving consumer demand and export opportunities, which could further support Sangam India’s earnings and valuation multiples.
Summary
Sangam (India) Ltd’s recent technical parameter changes mark a clear shift towards a bullish momentum phase. The convergence of MACD, Bollinger Bands, and moving averages on multiple timeframes, combined with strong relative returns versus the Sensex, underpin a positive investment thesis. The upgrade in Mojo Grade to Buy reinforces this outlook, making Sangam India a compelling pick within the garments and apparels sector for investors seeking growth with technical confirmation.
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