Triveni Turbine Ltd. Technical Momentum Shifts Amid Bearish Indicators

Current Price and Market Context

As of 2 Feb 2026, Triveni Turbine’s stock closed at ₹500.65, down 0.3% from the previous close of ₹502.15. The intraday range saw a high of ₹505.65 and a low of ₹490.10, reflecting some volatility within a relatively narrow band. The stock remains significantly below its 52-week high of ₹704.20 but comfortably above its 52-week low of ₹454.40, indicating a wide trading range over the past year.

Technical Trend and Indicator Analysis

The technical trend for Triveni Turbine has deteriorated from mildly bearish to outright bearish, signalling increased selling pressure. The Moving Average Convergence Divergence (MACD) indicator presents a bearish outlook on the weekly chart and a mildly bearish stance on the monthly chart. This divergence suggests that while short-term momentum is weakening, longer-term momentum remains somewhat cautious but not yet decisively negative.

The Relative Strength Index (RSI) offers no clear signal on either the weekly or monthly timeframe, hovering in a neutral zone that neither indicates overbought nor oversold conditions. This neutrality implies that the stock is currently in a consolidation phase without strong directional bias from momentum oscillators.

Bollinger Bands reinforce the bearish sentiment, with both weekly and monthly charts showing the stock price gravitating towards the lower band. This pattern often indicates increased volatility and potential downward pressure, suggesting that the stock may be vulnerable to further declines if selling intensifies.

Daily moving averages also confirm a bearish trend, with the stock price trading below key averages such as the 50-day and 200-day moving averages. This alignment typically signals a negative short-term outlook and may deter momentum-driven investors.

The Know Sure Thing (KST) indicator, which aggregates multiple rate-of-change measures, is bearish on the weekly chart and mildly bearish on the monthly chart, mirroring the MACD’s mixed timeframe signals. Meanwhile, Dow Theory analysis shows no definitive trend on either weekly or monthly charts, indicating a lack of confirmation from this classical trend-following approach.

On-Balance Volume (OBV) also fails to provide a clear trend, with no significant directional movement on weekly or monthly charts. This absence of volume confirmation suggests that price moves may not be strongly supported by trading activity, raising caution about the sustainability of any rallies.

Comparative Returns and Market Performance

When compared with the broader Sensex index, Triveni Turbine’s returns present a mixed picture. Over the past week, the stock outperformed the Sensex with an 8.06% gain versus the index’s 1.00% decline. However, over longer periods, the stock has underperformed. The one-month return stands at -5.95% compared to Sensex’s -4.67%, and year-to-date returns show a -6.96% decline against the Sensex’s -5.28% fall.

Over the one-year horizon, Triveni Turbine’s stock has declined by 21.28%, while the Sensex gained 5.16%, highlighting significant underperformance. Yet, the longer-term outlook is more favourable, with three-year returns at 89.14% compared to the Sensex’s 35.67%, five-year returns at 497.79% versus 74.40%, and ten-year returns at 402.66% against 224.57%. These figures underscore the stock’s strong historical growth despite recent setbacks.

Mojo Score and Rating Update

MarketsMOJO has recently upgraded Triveni Turbine’s Mojo Grade from Sell to Hold as of 30 Jan 2026, reflecting a cautious but improved outlook. The current Mojo Score stands at 50.0, indicating a neutral stance that neither strongly favours buying nor selling. The Market Cap Grade is 3, suggesting a mid-tier valuation relative to peers in the Heavy Electrical Equipment sector.

This upgrade aligns with the mixed technical signals observed, where some indicators show bearish momentum while others remain neutral or mildly bearish. Investors should note that the Hold rating implies a wait-and-watch approach rather than aggressive accumulation or liquidation.

Sector and Industry Context

Triveni Turbine operates within the Heavy Electrical Equipment industry, a sector that has faced headwinds due to fluctuating demand and supply chain challenges. The sector’s performance has been uneven, with some companies benefiting from infrastructure investments while others struggle with margin pressures.

Given the stock’s technical deterioration and neutral momentum indicators, it is essential to monitor sectoral developments and macroeconomic factors that could influence future performance. The lack of strong volume confirmation and absence of clear Dow Theory trends further emphasise the need for prudence.

Investor Takeaway and Outlook

Triveni Turbine’s recent technical momentum shift to a bearish stance, combined with mixed indicator signals, suggests a cautious outlook for investors. The stock’s current price near ₹500 is significantly below its 52-week high, indicating potential resistance levels ahead. The absence of strong volume support and neutral RSI readings imply that any short-term rallies may lack conviction.

Long-term investors may find comfort in the stock’s robust multi-year returns, but the near-term technical environment advises prudence. The Hold rating from MarketsMOJO reflects this balanced view, recommending that investors monitor key technical levels and sector developments before making decisive moves.

In summary, while Triveni Turbine has demonstrated resilience over the years, its current technical indicators and price momentum suggest that the stock is navigating a challenging phase. Investors should weigh these factors carefully against their risk tolerance and investment horizon.

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