Thangamayil Jewellery Ltd Sees Technical Momentum Shift Amid Strong Long-Term Returns

Current Price Action and Market Context

As of 12 Feb 2026, Thangamayil Jewellery Ltd closed at ₹3,672.75, down 0.72% from the previous close of ₹3,699.50. The intraday range saw a high of ₹3,725.70 and a low of ₹3,650.00, reflecting some volatility but maintaining a position well above its 52-week low of ₹1,526.45. The 52-week high stands at ₹4,138.15, indicating the stock still has room to recover towards recent peaks.

The company operates within the Gems, Jewellery and Watches sector, an industry known for its sensitivity to consumer sentiment and discretionary spending. Despite sectoral headwinds, Thangamayil Jewellery has demonstrated resilience, supported by strong fundamentals and a favourable market position.

Technical Trend Analysis: From Bullish to Mildly Bullish

Recent technical assessments reveal a subtle shift in momentum. The overall technical trend has transitioned from bullish to mildly bullish, signalling a cautious stance among traders and analysts. This change is reflected in several key indicators:

• MACD (Moving Average Convergence Divergence): The weekly MACD has turned mildly bearish, suggesting a short-term weakening in upward momentum. However, the monthly MACD remains bullish, indicating that the longer-term trend is intact and positive.
• RSI (Relative Strength Index): Both weekly and monthly RSI readings currently show no clear signal, hovering in neutral territory. This suggests the stock is neither overbought nor oversold, providing a balanced outlook without extreme momentum pressures.
• Bollinger Bands: Both weekly and monthly Bollinger Bands remain bullish, implying that price volatility is contained within an upward trending channel, which supports the potential for further gains.
• Moving Averages: Daily moving averages continue to signal bullish momentum, reinforcing the short-term positive price action despite recent minor pullbacks.

Mixed Signals from Other Technical Indicators

Additional technical tools provide a more nuanced picture:

• KST (Know Sure Thing): Weekly readings are mildly bearish, while monthly readings remain bullish, mirroring the MACD’s mixed timeframe signals.
• Dow Theory: Weekly signals are mildly bearish, but monthly trends are bullish, indicating that while short-term corrections may be underway, the primary trend remains upward.
• On-Balance Volume (OBV): Weekly OBV is mildly bearish, suggesting some selling pressure in the short term, but the monthly OBV shows no clear trend, indicating volume support is stable over the longer term.

Long-Term Performance Outpaces Benchmarks

Thangamayil Jewellery Ltd’s price returns have been exceptional when compared to the broader market benchmark, the Sensex. Over the past year, the stock has surged by 103.07%, vastly outperforming the Sensex’s 10.41% gain. This outperformance extends over longer periods:

• 3-year return: 631.78% versus Sensex’s 38.81%
• 5-year return: 1,117.85% compared to Sensex’s 63.46%
• 10-year return: an extraordinary 4,111.39% against Sensex’s 267.00%

Even in shorter timeframes, the stock has outpaced the market, with a 1-week return of 11.74% versus 0.50% for the Sensex, and a year-to-date return of 14.16% compared to the Sensex’s negative 1.16%. This remarkable performance underscores the company’s strong growth trajectory and investor confidence.

Mojo Score Upgrade Reflects Improved Outlook

MarketsMOJO has upgraded Thangamayil Jewellery Ltd’s Mojo Grade from Buy to Strong Buy as of 09 Feb 2026, reflecting enhanced confidence in the stock’s prospects. The current Mojo Score stands at a robust 84.0, signalling strong fundamental and technical attributes. The Market Cap Grade remains at 3, indicating a mid-sized market capitalisation with growth potential.

This upgrade aligns with the company’s sustained outperformance and the technical indicators that, while showing some short-term caution, maintain a positive long-term bias. Investors should note that the downgrade in short-term technical signals may represent a consolidation phase rather than a reversal.

Sector and Industry Context

Operating in the Gems, Jewellery and Watches sector, Thangamayil Jewellery Ltd benefits from rising consumer demand for luxury and branded jewellery. The sector has faced challenges from fluctuating gold prices and changing consumer preferences, but the company’s strategic positioning and brand strength have helped it navigate these headwinds effectively.

Technical indicators such as Bollinger Bands and moving averages suggest that the stock remains in an upward channel, supported by steady volume and momentum. This technical resilience is crucial in a sector prone to cyclical swings.

Investor Considerations and Outlook

For investors, the mildly bullish technical trend combined with strong long-term fundamentals presents an opportunity to consider Thangamayil Jewellery Ltd as a core holding. The mixed signals from weekly indicators suggest monitoring for potential short-term volatility, but the monthly bullish trends and strong historical returns provide a solid foundation for confidence.

Risk-averse investors may wish to wait for confirmation of renewed weekly momentum before increasing exposure, while more aggressive investors could view current levels as a tactical entry point within a broader uptrend.

Summary

Thangamayil Jewellery Ltd’s recent technical parameter changes highlight a shift to a mildly bullish momentum, tempered by some short-term bearish signals in weekly MACD, KST, and Dow Theory indicators. However, the monthly technicals remain firmly bullish, supported by strong moving averages and Bollinger Bands. The stock’s exceptional long-term returns, vastly outperforming the Sensex across all measured periods, underpin the positive fundamental backdrop.

With a recent upgrade to a Strong Buy Mojo Grade and a high Mojo Score of 84.0, the company is well positioned for continued growth. Investors should weigh the short-term technical caution against the compelling long-term trend and sector fundamentals when considering their investment strategy.

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