Technical Trend Overview and Price Movement
As of 2 Jan 2026, SKF India’s share price closed at ₹1,866.00, up from the previous close of ₹1,853.30. The stock’s intraday range spanned ₹1,832.10 to ₹1,866.00, indicating a relatively tight trading band. Over the past 52 weeks, the stock has demonstrated significant volatility, with a low of ₹730.48 and a high of ₹2,395.85, underscoring a wide valuation range that investors should consider when assessing risk.
The technical trend has shifted from a clear bullish stance to a mildly bullish one, signalling a potential deceleration in upward momentum. This subtle change suggests that while the stock retains positive bias, the strength of the rally may be moderating, warranting close monitoring of key technical indicators for confirmation of sustained direction.
MACD and RSI: Divergent Signals
The Moving Average Convergence Divergence (MACD) indicator presents a mixed picture. On a weekly timeframe, the MACD is mildly bearish, indicating that short-term momentum may be weakening. Conversely, the monthly MACD remains bullish, reflecting longer-term positive momentum. This divergence implies that while the immediate trend may be under pressure, the broader outlook retains strength.
Relative Strength Index (RSI) readings further complicate the technical landscape. The weekly RSI is bearish, suggesting that the stock may be experiencing short-term selling pressure or consolidation. However, the monthly RSI does not currently signal any definitive trend, indicating a neutral stance over the longer term. Investors should be cautious of potential short-term pullbacks while recognising the absence of a strong bearish signal on a monthly basis.
Moving Averages and Bollinger Bands Confirm Mild Bullishness
Daily moving averages for SKF India are mildly bullish, supporting the notion of a gradual upward trend. This is consistent with the Bollinger Bands, which are bullish on both weekly and monthly charts. The Bollinger Bands’ expansion and positioning suggest that volatility remains contained within an upward channel, providing a technical cushion against sharp declines.
Such alignment between moving averages and Bollinger Bands typically indicates that the stock is maintaining its upward trajectory, albeit with moderated momentum. This technical setup favours investors who prefer to hold positions with a view to medium-term gains, while remaining vigilant for any signs of trend reversal.
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Additional Momentum Indicators: KST, OBV, and Dow Theory
The Know Sure Thing (KST) indicator is bullish on both weekly and monthly timeframes, reinforcing the presence of underlying positive momentum. This suggests that despite some short-term bearish signals, the stock’s price action is supported by strong trend-following momentum.
On-Balance Volume (OBV) is bullish on the weekly chart but shows no clear trend on the monthly scale. This indicates that recent buying volume has been supportive, although longer-term volume trends remain inconclusive. Volume analysis is critical in confirming price moves, and the current OBV readings suggest that accumulation may be occurring in the short term.
Dow Theory assessments reveal a mildly bullish trend on the weekly chart, while the monthly chart shows no definitive trend. This mixed reading aligns with the broader technical narrative of cautious optimism, where short-term strength is evident but longer-term confirmation is pending.
Comparative Returns Highlight Strong Long-Term Performance
SKF India’s stock returns have outpaced the Sensex significantly over multiple time horizons. The stock delivered a remarkable 101.94% return over the past year compared to the Sensex’s 8.51%. Over five years, SKF India surged 422.93%, dwarfing the Sensex’s 77.96% gain. Even on a decade-long basis, the stock’s 636.39% return far exceeds the benchmark’s 225.63%.
However, short-term returns have been more volatile. The stock posted a 4.16% gain over the last week, outperforming the Sensex’s slight decline of 0.26%. Conversely, the one-month return was negative at -4.12%, marginally worse than the Sensex’s -0.53%. Year-to-date, SKF India has gained 0.69%, slightly ahead of the Sensex’s -0.04%. These fluctuations underscore the importance of technical analysis in timing entries and exits.
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Mojo Score and Rating Update
MarketsMOJO assigns SKF India a Mojo Score of 60.0, reflecting a moderate technical and fundamental standing. The Mojo Grade has recently improved from a Sell to a Hold as of 1 Oct 2025, signalling a cautious upgrade in the stock’s outlook. The Market Cap Grade stands at 3, indicating a mid-tier capitalisation within the industrial products sector.
This rating shift aligns with the technical trend’s moderation from bullish to mildly bullish, suggesting that while the stock is no longer a strong buy candidate, it remains a viable holding for investors with a medium-term horizon. The mixed technical signals warrant a balanced approach, combining fundamental analysis with ongoing technical monitoring.
Investment Implications and Outlook
SKF India’s current technical profile presents a nuanced scenario. The mildly bullish trend, supported by daily moving averages and Bollinger Bands, offers a foundation for potential upside. However, bearish weekly MACD and RSI readings caution against overextension in the near term. Investors should watch for confirmation of trend continuation or reversal through upcoming weekly and monthly indicator movements.
Given the stock’s strong long-term returns relative to the Sensex, SKF India remains an attractive candidate for investors seeking exposure to the industrial products sector. Yet, the recent technical moderation and mixed momentum indicators suggest that timing and risk management will be critical to capitalising on future gains.
In summary, SKF India Ltd is navigating a transitional phase in its price momentum. The interplay of bullish and bearish signals across multiple technical indicators calls for a measured investment approach, balancing optimism with prudence.
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