Shakti Pumps (India) Ltd Sees Mixed Technical Signals Amid Price Momentum Shift

Price Movement and Market Context

On 4 February 2026, Shakti Pumps (India) Ltd closed at ₹638.70, up from the previous close of ₹602.25, marking a robust day change of 6.05%. The stock traded within a range of ₹618.30 to ₹642.95, showing intraday volatility but a clear upward bias. However, this rally comes against a backdrop of a 52-week high of ₹1,047.00 and a 52-week low of ₹549.00, indicating the stock remains well below its peak levels.

Comparatively, the stock’s returns over various periods reveal a mixed performance. While it has outperformed the Sensex substantially over the long term — with a 10-year return of 2,767.41% versus Sensex’s 245.70% and a 5-year return of 863.49% against Sensex’s 66.63% — recent shorter-term returns have been disappointing. The stock has declined 14.00% over the past month and 11.87% year-to-date, underperforming the Sensex’s respective returns of -2.36% and -1.74%. This divergence highlights the current technical uncertainty despite the long-term strength.

Technical Indicators: A Mixed Bag

The technical landscape for Shakti Pumps is nuanced, with several key indicators signalling different trends across timeframes.

MACD (Moving Average Convergence Divergence): The weekly MACD remains bearish, indicating that the short-term momentum is still under pressure. The monthly MACD, however, is mildly bearish, suggesting that while the longer-term trend is not fully positive, it is less severe than the weekly outlook. This divergence points to a potential stabilisation or slow recovery in momentum over the coming months.

RSI (Relative Strength Index): The weekly RSI currently shows no clear signal, hovering in a neutral zone that neither confirms overbought nor oversold conditions. Conversely, the monthly RSI is bullish, implying that the stock may be gaining strength on a longer-term basis and could be poised for a gradual upward move if this momentum sustains.

Bollinger Bands: Both weekly and monthly Bollinger Bands are mildly bearish, indicating that price volatility remains elevated and the stock is trading near the lower band on these timeframes. This suggests caution as the stock may face resistance to further upward moves in the near term.

Moving Averages: The daily moving averages remain bearish, reinforcing the short-term downtrend. This is a critical factor for traders relying on moving average crossovers for entry and exit signals, as the bearish alignment suggests the stock has yet to confirm a sustained recovery.

Additional Momentum Indicators

The KST (Know Sure Thing) indicator presents a split view: weekly readings are mildly bullish, hinting at some short-term positive momentum, while monthly readings remain mildly bearish, reflecting longer-term caution. This suggests that while short-term traders might find opportunities, longer-term investors should remain vigilant.

Dow Theory assessments also show a similar dichotomy. The weekly trend is mildly bearish, consistent with the short-term technical weakness, but the monthly trend is mildly bullish, indicating that the primary trend may still be intact or in the early stages of recovery.

On-Balance Volume (OBV) analysis reveals a mildly bearish weekly trend, signalling that volume flow is not strongly supporting price advances in the short term. The monthly OBV shows no clear trend, which may imply indecision among investors or a lack of conviction in the current price movements.

Mojo Score and Market Capitalisation

Shakti Pumps currently holds a Mojo Score of 42.0, which corresponds to a Mojo Grade of Sell, downgraded from Hold on 6 November 2025. This downgrade reflects the deteriorating technical and fundamental outlook as assessed by MarketsMOJO’s proprietary scoring system. The company’s market cap grade stands at 3, indicating a mid-tier market capitalisation relative to its peers in the Compressors, Pumps & Diesel Engines sector.

Investors should note that the downgrade aligns with the mixed technical signals and recent underperformance relative to the Sensex, particularly over the past month and year-to-date periods.

Sector and Industry Context

Operating within the Compressors, Pumps & Diesel Engines sector, Shakti Pumps faces competitive pressures and cyclical demand patterns that influence its stock performance. The sector itself has seen varied momentum, with some peers exhibiting stronger technical profiles and more favourable fundamental metrics. This context is important for investors considering relative strength and sector rotation strategies.

Given the current technical signals, investors may wish to monitor the stock closely for confirmation of trend reversals or further deterioration. The mixed readings from MACD, RSI, and moving averages suggest that while short-term rallies are possible, sustained upward momentum remains uncertain.

Investment Implications

For traders, the daily bearish moving averages and weekly bearish MACD suggest caution in initiating fresh long positions without clear confirmation of trend reversal. The mildly bullish monthly RSI and Dow Theory signals offer some hope for a longer-term recovery, but these are tempered by the mildly bearish Bollinger Bands and OBV readings.

Long-term investors should weigh the stock’s impressive multi-year returns against recent underperformance and technical downgrades. The stock’s 3-year and 5-year returns of 832.55% and 863.49% respectively, far outpace the Sensex, but the 1-year return of -28.84% versus Sensex’s 8.49% highlights recent challenges.

Overall, the technical parameter changes reflect a stock in transition, with momentum shifting but not yet decisively turning bullish. Investors should consider integrating these signals with fundamental analysis and sector outlook before making allocation decisions.

Conclusion

Shakti Pumps (India) Ltd’s recent price momentum shift and mixed technical indicator signals paint a picture of cautious optimism tempered by short-term bearishness. While the stock’s long-term performance remains impressive, the current technical downgrade to a Sell grade and the array of conflicting signals from MACD, RSI, moving averages, and volume indicators suggest that investors should remain vigilant. Monitoring for confirmation of trend changes and comparing with sector peers will be crucial in the coming weeks.

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