Shipping Corporation of India Ltd Shows Technical Momentum Shift Amid Mixed Indicators

Technical Trend Overview and Price Movement

As of 4 February 2026, SCI’s share price closed at ₹221.55, marking a 2.40% increase from the previous close of ₹216.35. The stock traded within a range of ₹219.15 to ₹227.40 during the day, reflecting heightened intraday volatility. Despite this, the stock remains well below its 52-week high of ₹280.00 but comfortably above its 52-week low of ₹138.25, signalling a recovery trajectory over the past year.

The technical trend has shifted from mildly bearish to mildly bullish, a subtle but important change that suggests improving investor sentiment. This shift is supported by the daily moving averages, which currently indicate a bullish stance, signalling that short-term momentum is gaining strength.

MACD and Momentum Indicators

The Moving Average Convergence Divergence (MACD) indicator presents a mixed scenario. On a weekly basis, the MACD remains bearish, indicating that momentum over the past several weeks has been subdued. The monthly MACD, however, is mildly bearish, suggesting that while the longer-term trend is still cautious, it is showing signs of stabilisation.

This divergence between weekly and monthly MACD readings highlights a transitional phase for SCI, where short-term momentum is improving but longer-term momentum has yet to fully confirm a bullish reversal.

RSI and Overbought/Oversold Conditions

The Relative Strength Index (RSI) on both weekly and monthly charts currently shows no definitive signal, hovering in a neutral zone. This indicates that the stock is neither overbought nor oversold, providing a balanced backdrop for potential price movements without extreme pressure in either direction.

Bollinger Bands and Volatility

Bollinger Bands add further nuance to the technical picture. On a weekly basis, the bands suggest a bearish outlook, implying that price volatility has been skewed towards the downside recently. Conversely, the monthly Bollinger Bands are mildly bullish, indicating that over a longer horizon, volatility is beginning to support upward price movement.

Moving Averages and Daily Momentum

The daily moving averages have turned bullish, signalling that recent price action is gaining upward momentum. This is a positive technical development, as moving averages often serve as dynamic support and resistance levels. The bullish crossover on daily charts suggests that short-term traders are increasingly confident in SCI’s price appreciation potential.

KST and Dow Theory Signals

The Know Sure Thing (KST) indicator remains bearish on both weekly and monthly timeframes, indicating that momentum measured by rate-of-change calculations is still under pressure. Similarly, Dow Theory analysis shows no clear trend on weekly or monthly charts, reflecting uncertainty in the broader market context for SCI.

On-Balance Volume and Trend Confirmation

On-Balance Volume (OBV) readings show no discernible trend on weekly or monthly charts, suggesting that volume flow is not strongly confirming price movements. This lack of volume confirmation tempers the bullish signals from moving averages and Bollinger Bands, indicating that investor conviction may still be tentative.

Comparative Returns and Market Context

SCI’s recent returns relative to the Sensex provide additional context for its technical developments. Over the past week, SCI outperformed the Sensex with a 4.98% gain versus the benchmark’s 2.30%. However, over the past month and year-to-date periods, SCI has underperformed, declining 5.74% and 4.40% respectively, compared to Sensex declines of 2.36% and 1.74%. On a longer-term basis, SCI has delivered robust returns, with a 14.00% gain over one year, 135.91% over three years, 228.49% over five years, and an impressive 247.79% over ten years, significantly outpacing the Sensex’s respective returns of 8.49%, 37.63%, 66.63%, and 245.70%.

Mojo Score and Analyst Ratings

MarketsMOJO assigns SCI a Mojo Score of 52.0, reflecting a Hold rating, an upgrade from a previous Sell rating as of 30 January 2026. The Market Cap Grade stands at 3, indicating a mid-tier market capitalisation relative to peers. This upgrade signals improving fundamentals and technicals, though caution remains warranted given mixed indicator signals.

Investment Implications and Outlook

The technical momentum shift from mildly bearish to mildly bullish suggests that SCI is entering a phase of potential price appreciation, supported by daily moving averages and monthly Bollinger Bands. However, the bearish weekly MACD and KST indicators, alongside neutral RSI and lack of volume confirmation, advise prudence. Investors should monitor whether the bullish daily momentum sustains and whether longer-term indicators confirm a trend reversal.

Given the stock’s strong long-term performance relative to the Sensex and recent technical upgrades, SCI may appeal to investors seeking exposure to the transport services sector with a medium-term horizon. However, the mixed signals highlight the importance of a balanced approach, combining technical analysis with fundamental assessment and sector outlook.

Sector and Industry Considerations

SCI operates within the transport services sector, a segment sensitive to global trade dynamics, fuel prices, and regulatory changes. The company’s technical improvement may reflect optimism about sector recovery or company-specific catalysts such as fleet expansion or contract wins. However, investors should remain vigilant to macroeconomic risks and sector volatility that could impact SCI’s price trajectory.

Conclusion

Shipping Corporation of India Ltd’s recent technical parameter changes indicate a tentative shift towards bullish momentum, supported by daily moving averages and monthly volatility measures. Mixed signals from MACD, KST, and volume indicators suggest that while the stock is improving technically, confirmation from longer-term momentum and volume trends is pending. The upgrade in Mojo Grade from Sell to Hold reflects this cautious optimism.

Investors should weigh SCI’s strong long-term returns and improving technicals against the current mixed indicator landscape and sector risks. A measured approach, incorporating ongoing technical monitoring and fundamental analysis, is advisable for those considering exposure to this transport services small-cap.

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