Shakti Pumps (India) Ltd Faces Bearish Momentum Amid Technical Downgrade

Technical Trend Shift and Price Movement

Shakti Pumps’ share price closed at ₹659.40 on 21 Jan 2026, down 4.28% from the previous close of ₹688.85. The intraday range saw a high of ₹686.85 and a low of ₹655.55, indicating persistent selling pressure throughout the session. The stock is trading closer to its 52-week low of ₹549.00 than its 52-week high of ₹1,207.00, underscoring the recent downward momentum.

The technical trend has shifted from mildly bearish to outright bearish, signalling a more pronounced negative sentiment among traders and investors. This shift is corroborated by the daily moving averages, which currently present a bearish alignment, with the stock price trading below key averages, suggesting downward pressure is likely to persist in the near term.

MACD and Momentum Indicators

The Moving Average Convergence Divergence (MACD) indicator presents a mixed picture. On a weekly basis, the MACD remains mildly bullish, hinting at some underlying positive momentum in the short term. However, the monthly MACD has turned mildly bearish, reflecting a longer-term weakening trend. This divergence between weekly and monthly MACD readings suggests that while short-term rallies may occur, the broader trend remains negative.

The Know Sure Thing (KST) indicator aligns with this view, showing bearish signals on the weekly chart and mildly bearish on the monthly chart. This further confirms the weakening momentum and the likelihood of continued downward pressure on the stock price.

RSI and Bollinger Bands Analysis

The Relative Strength Index (RSI) currently offers no clear signal on either the weekly or monthly timeframes, hovering in a neutral zone. This indicates that the stock is neither overbought nor oversold, but the absence of a strong RSI signal suggests a lack of bullish conviction among market participants.

Conversely, Bollinger Bands on both weekly and monthly charts are bearish, with the price trending near the lower band. This positioning typically signals increased volatility and potential continuation of the downtrend, as the stock struggles to find support.

Volume and On-Balance Volume (OBV) Insights

On-Balance Volume (OBV) presents a nuanced view. While the weekly OBV shows no clear trend, the monthly OBV is bullish, indicating that despite price weakness, accumulation may be occurring over the longer term. This divergence between price and volume could suggest that some investors are positioning for a potential recovery, although this is not yet reflected in price action.

Dow Theory and Market Sentiment

According to Dow Theory, the weekly trend is mildly bearish, while the monthly trend shows no definitive direction. This suggests that the stock is in a consolidation phase on a longer timeframe but is experiencing short-term weakness. The lack of a clear monthly trend may indicate uncertainty among investors regarding the stock’s medium-term prospects.

Daily moving averages reinforce the bearish sentiment, with the stock price consistently below the 50-day and 200-day averages. This technical alignment typically signals a downtrend and may deter momentum-driven investors from entering new positions.

Comparative Performance Against Sensex

Shakti Pumps’ recent returns have significantly underperformed the broader market. Over the past week, the stock declined by 8.65%, compared to a 1.73% drop in the Sensex. The one-month and year-to-date returns also reflect this underperformance, with losses of 8.85% and 9.02% respectively, while the Sensex fell by 3.24% and 3.57% over the same periods.

Over a longer horizon, however, Shakti Pumps has delivered exceptional returns, with a 3-year gain of 864.30% and a 5-year gain of 896.22%, vastly outperforming the Sensex’s 35.56% and 65.05% returns respectively. The 10-year return of 2,607.24% further highlights the company’s strong historical growth trajectory, although recent technical signals suggest caution.

Mojo Score and Rating Revision

MarketsMOJO has downgraded Shakti Pumps from a Hold to a Sell rating as of 6 Nov 2025, reflecting the deteriorating technical and fundamental outlook. The current Mojo Score stands at 36.0, categorised as a Sell, down from the previous rating. The Market Cap Grade remains low at 3, indicating limited market capitalisation strength relative to peers.

This downgrade aligns with the bearish technical indicators and recent price weakness, signalling that investors should exercise caution and consider risk management strategies.

Investment Implications and Outlook

Investors in Shakti Pumps should be mindful of the prevailing bearish technical signals and the recent downgrade by MarketsMOJO. The combination of a declining share price, bearish moving averages, and negative momentum indicators suggests that the stock may face further downside pressure in the short to medium term.

However, the long-term performance remains impressive, and the bullish monthly OBV hints at some underlying accumulation. This could provide a foundation for a potential recovery if broader market conditions improve or if company-specific catalysts emerge.

Given the current technical landscape, risk-averse investors may prefer to reduce exposure or await clearer signs of trend reversal before initiating new positions. Conversely, more aggressive traders might look for short-term opportunities to capitalise on volatility, but with strict risk controls in place.

Summary of Key Technical Metrics:

• Current Price: ₹659.40 (down 4.28% on 21 Jan 2026)


• 52-Week Range: ₹549.00 - ₹1,207.00


• MACD: Weekly Mildly Bullish, Monthly Mildly Bearish


• RSI: Neutral on Weekly and Monthly


• Bollinger Bands: Bearish on Weekly and Monthly


• Moving Averages: Bearish on Daily


• KST: Weekly Bearish, Monthly Mildly Bearish


• Dow Theory: Weekly Mildly Bearish, Monthly No Trend


• OBV: Weekly No Trend, Monthly Bullish


• Mojo Score: 36.0 (Sell), downgraded from Hold on 6 Nov 2025

In conclusion, Shakti Pumps (India) Ltd is currently navigating a challenging technical environment with bearish momentum dominating near-term price action. While the stock’s long-term fundamentals and historical returns remain robust, the recent technical downgrade and price weakness warrant a cautious approach for investors.

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