Technical Trend Shift and Price Movement
On 16 Feb 2026, Shivalik Bimetal’s share price closed at ₹509.65, down 2.65% from the previous close of ₹523.55. The intraday range saw a high of ₹527.45 and a low of ₹502.00, indicating increased volatility. The stock remains below its 52-week high of ₹604.00 but comfortably above the 52-week low of ₹378.00, suggesting a moderate recovery from its lows.
The technical trend has shifted from a sideways pattern to a mildly bearish stance, signalling a potential weakening in upward momentum. This is corroborated by the daily moving averages, which currently indicate a mildly bearish outlook. The stock’s Market Cap Grade stands at 3, reflecting a mid-tier market capitalisation relative to peers.
MACD and Momentum Oscillators
The Moving Average Convergence Divergence (MACD) indicator presents a nuanced picture. On a weekly basis, the MACD remains mildly bullish, suggesting some underlying positive momentum in the short term. However, the monthly MACD has turned bearish, indicating that longer-term momentum is weakening. This divergence between weekly and monthly MACD readings highlights a potential conflict between short-term optimism and longer-term caution.
The Know Sure Thing (KST) indicator aligns with this mixed view: weekly readings are mildly bullish, while monthly readings are bearish. This suggests that while short-term price action may still have some upward thrust, the broader trend is losing strength.
RSI and Bollinger Bands Analysis
The Relative Strength Index (RSI) on both weekly and monthly charts currently shows no clear signal, hovering in neutral territory. This lack of momentum extremes implies that the stock is neither overbought nor oversold, leaving room for either a rebound or further decline depending on market catalysts.
Bollinger Bands provide additional insight. Weekly Bollinger Bands are bullish, indicating that price volatility is supporting upward moves in the short term. Conversely, monthly Bollinger Bands have turned mildly bearish, reinforcing the notion of weakening momentum over a longer horizon.
Volume and Dow Theory Signals
On-Balance Volume (OBV) readings are mildly bullish on both weekly and monthly timeframes, suggesting that volume trends are supporting price gains. This is a positive sign, as volume often precedes price movements and can confirm trend strength.
Dow Theory assessments also show mildly bullish signals on both weekly and monthly charts, indicating that the broader market structure may still favour upward trends despite recent price softness.
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Mojo Score Downgrade and Market Context
MarketsMOJO recently downgraded Shivalik Bimetal’s Mojo Grade from Hold to Sell on 27 Oct 2025, reflecting a deterioration in technical and fundamental outlook. The current Mojo Score stands at 42.0, signalling weak momentum and caution for investors. This downgrade aligns with the mildly bearish technical trend and the mixed signals from key indicators.
Despite this, the stock’s long-term returns remain impressive. Over the past five years, Shivalik Bimetal has delivered a staggering 823.13% return, vastly outperforming the Sensex’s 60.30% gain over the same period. Even over ten years, the stock’s return of 7,489.16% dwarfs the Sensex’s 259.46%, underscoring its historical growth potential.
However, shorter-term returns have been more volatile. Year-to-date, the stock has gained 18.62%, outperforming the Sensex’s decline of 3.04%. Over the past month, the stock surged 17.55%, while the Sensex fell 1.20%. This recent outperformance contrasts with the technical downgrade, suggesting that price momentum may be peaking or facing resistance.
Moving Averages and Daily Price Action
Daily moving averages have turned mildly bearish, indicating that recent price action is losing upward momentum. The stock’s current price of ₹509.65 is below its recent highs, and the downward pressure is reflected in the 2.65% decline on the day of analysis. This suggests that short-term traders may be taking profits or that selling pressure is increasing.
Given the mixed signals from weekly and monthly indicators, investors should monitor key support levels near ₹500 and resistance around ₹527 to gauge the next directional move. A sustained break below support could confirm a bearish phase, while a rebound above resistance may signal renewed strength.
Sector and Industry Considerations
Shivalik Bimetal operates within the Iron & Steel Products sector, which has experienced cyclical fluctuations due to global demand shifts and raw material price volatility. The sector’s performance often correlates with broader industrial activity and infrastructure spending. Investors should consider macroeconomic factors alongside technical signals when assessing the stock’s outlook.
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Investor Takeaway and Outlook
Shivalik Bimetal Controls Ltd currently presents a complex technical picture. While short-term indicators such as weekly MACD, Bollinger Bands, OBV, and Dow Theory readings suggest mild bullishness, the monthly indicators and daily moving averages point towards a weakening momentum and a mildly bearish trend. The recent downgrade in Mojo Grade to Sell further emphasises caution.
Investors should weigh the stock’s impressive long-term returns against the current technical signals indicating potential near-term weakness. Monitoring price action around key support and resistance levels will be critical in determining whether the stock can regain upward momentum or if a deeper correction is underway.
Given the mixed signals, a cautious approach is advisable. Investors with a higher risk tolerance may consider selective entry points on dips near support, while more conservative investors might await clearer confirmation of trend direction before committing fresh capital.
Summary of Key Technical Indicators:
- Technical Trend: Shifted from sideways to mildly bearish
- MACD: Weekly mildly bullish; Monthly bearish
- RSI: Neutral on weekly and monthly charts
- Bollinger Bands: Weekly bullish; Monthly mildly bearish
- Moving Averages: Daily mildly bearish
- KST: Weekly mildly bullish; Monthly bearish
- Dow Theory: Mildly bullish on weekly and monthly
- OBV: Mildly bullish on weekly and monthly
Price and Returns Snapshot:
- Current Price: ₹509.65
- 52-Week High/Low: ₹604.00 / ₹378.00
- Day Change: -2.65%
- 1 Week Return: +5.15% vs Sensex -1.14%
- 1 Month Return: +17.55% vs Sensex -1.20%
- Year-to-Date Return: +18.62% vs Sensex -3.04%
- 5 Year Return: +823.13% vs Sensex +60.30%
- 10 Year Return: +7,489.16% vs Sensex +259.46%
In conclusion, while Shivalik Bimetal Controls Ltd boasts strong historical performance and some short-term bullish signals, the prevailing technical indicators and recent downgrade suggest a cautious stance. Investors should closely monitor evolving price momentum and broader market conditions before making significant portfolio decisions.
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