Price Momentum and Recent Market Performance
On 22 Jan 2026, TBZ closed at ₹171.90, marking a 2.26% increase from the previous close of ₹168.10. The stock traded within a range of ₹166.05 to ₹182.20 during the day, indicating heightened volatility. Despite this intraday fluctuation, the stock remains significantly below its 52-week high of ₹232.75, while comfortably above its 52-week low of ₹155.35.
When compared to the broader market, TBZ has outperformed the Sensex over shorter time frames. The stock posted a 4.24% gain over the past week against a 1.77% decline in the Sensex, and a 6.94% rise over the last month compared to the Sensex’s 3.56% fall. Year-to-date, TBZ has gained 4.56%, while the Sensex has declined by 3.89%. However, over the one-year horizon, TBZ has underperformed with a negative return of 13.99%, contrasting with the Sensex’s 8.01% gain. Longer-term returns remain robust, with three-, five-, and ten-year returns of 127.68%, 128.89%, and 145.05% respectively, comfortably outpacing the Sensex’s corresponding returns.
Technical Trend Shift: From Bearish to Mildly Bearish
The technical trend for TBZ has shifted from a strongly bearish stance to a mildly bearish one, signalling a potential stabilisation in price action. This nuanced change is reflected across multiple timeframes and indicators.
The Moving Average Convergence Divergence (MACD) indicator remains bearish on the weekly chart, while the monthly MACD has improved to mildly bearish. This suggests that while short-term momentum is still under pressure, longer-term momentum is showing tentative signs of improvement.
The Relative Strength Index (RSI) does not currently provide a clear signal on either the weekly or monthly charts, indicating a neutral momentum phase. This lack of directional bias in RSI suggests that the stock is neither overbought nor oversold, leaving room for potential directional moves based on other factors.
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Bollinger Bands and Moving Averages Indicate Mild Bearishness
Bollinger Bands on both weekly and monthly charts signal a mildly bearish outlook, reflecting moderate downward pressure on price volatility. The bands have tightened recently, suggesting reduced price fluctuations but also hinting at a potential breakout scenario in the near term.
Daily moving averages also remain mildly bearish, with the stock price hovering near the short-term averages but failing to decisively break above key resistance levels. This indicates that while the stock is attempting to regain upward momentum, it faces resistance that could limit near-term gains.
Other Technical Indicators: KST, Dow Theory, and OBV
The Know Sure Thing (KST) oscillator remains bearish on the weekly chart and mildly bearish on the monthly chart, reinforcing the cautious stance on momentum. Meanwhile, Dow Theory presents a mixed picture: weekly signals are mildly bullish, suggesting some short-term optimism, but monthly signals remain mildly bearish, indicating longer-term caution.
On-Balance Volume (OBV) analysis shows a divergence between weekly and monthly trends. The weekly OBV is mildly bearish, implying that volume is not strongly supporting recent price gains. Conversely, the monthly OBV is bullish, suggesting accumulation over a longer horizon, which could underpin future price strength.
Mojo Score Upgrade Reflects Improved Sentiment
MarketsMOJO has upgraded TBZ’s Mojo Grade from Sell to Hold as of 12 Jan 2026, with a current Mojo Score of 51.0. This upgrade reflects a tempered improvement in the stock’s technical and fundamental outlook, signalling that while the stock is not yet a strong buy, it has moved out of the sell territory. The Market Cap Grade remains modest at 3, consistent with the company’s mid-sized market capitalisation within the Gems, Jewellery and Watches sector.
Investors should note that the Hold rating suggests a wait-and-watch approach, with the stock showing potential for recovery but still facing headwinds from mixed technical signals and sector-specific challenges.
Sector Context and Comparative Performance
Within the Gems, Jewellery and Watches sector, TBZ’s recent price action and technical signals are reflective of broader market dynamics. The sector has experienced volatility due to fluctuating gold prices, changing consumer demand, and global economic uncertainties. TBZ’s ability to outperform the Sensex in the short term is encouraging, but the one-year underperformance highlights the need for cautious optimism.
Long-term investors may find value in TBZ’s strong multi-year returns, which have significantly outpaced the Sensex over three, five, and ten-year periods. This suggests that despite recent volatility, the company has demonstrated resilience and growth potential over extended horizons.
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Investor Takeaway: Balanced Caution Amid Mixed Signals
Tribhovandas Bhimji Zaveri Ltd’s recent technical parameter changes reflect a stock in transition. The shift from bearish to mildly bearish trends, combined with mixed signals from MACD, RSI, Bollinger Bands, and moving averages, suggests that the stock is attempting to stabilise but has yet to confirm a sustained uptrend.
Short-term traders may find opportunities in the stock’s volatility and intraday price swings, especially given the positive weekly returns relative to the Sensex. However, the absence of strong bullish confirmation from key momentum indicators advises prudence.
Long-term investors should weigh the company’s solid multi-year returns and recent upgrade in Mojo Grade against the current technical uncertainties. Monitoring volume trends and broader sector developments will be crucial in assessing whether TBZ can convert its mild bullish signals into a more definitive upward trajectory.
Overall, the stock’s Hold rating by MarketsMOJO aligns with the current technical and fundamental landscape, recommending a measured approach rather than aggressive accumulation or liquidation.
Summary of Key Technical Metrics for TBZ
- Current Price: ₹171.90
- Day Change: +2.26%
- 52-Week Range: ₹155.35 - ₹232.75
- MACD: Weekly Bearish, Monthly Mildly Bearish
- RSI: Neutral (No Signal) on Weekly and Monthly
- Bollinger Bands: Mildly Bearish (Weekly & Monthly)
- Moving Averages: Daily Mildly Bearish
- KST: Weekly Bearish, Monthly Mildly Bearish
- Dow Theory: Weekly Mildly Bullish, Monthly Mildly Bearish
- OBV: Weekly Mildly Bearish, Monthly Bullish
- Mojo Score: 51.0 (Hold, upgraded from Sell on 12 Jan 2026)
Investors should continue to monitor these indicators closely as the stock navigates this critical phase, balancing technical signals with broader market and sector fundamentals.
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